Q4 2018 EPS Estimates for HomeStreet Inc (HMST) Lowered by Analyst

HomeStreet Inc (NASDAQ:HMST) – Investment analysts at FIG Partners cut their Q4 2018 earnings per share estimates for shares of HomeStreet in a research note issued on Wednesday, October 24th. FIG Partners analyst T. Coffey now anticipates that the financial services provider will post earnings of $0.29 per share for the quarter, down from their prior estimate of $0.40. FIG Partners currently has a “Hold” rating and a $30.00 target price on the stock. FIG Partners also issued estimates for HomeStreet’s Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.60 EPS, Q1 2020 earnings at $0.64 EPS, Q2 2020 earnings at $0.89 EPS, Q3 2020 earnings at $0.82 EPS and FY2020 earnings at $2.92 EPS.

HMST has been the subject of a number of other research reports. BidaskClub lowered shares of HomeStreet from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 3rd. Zacks Investment Research upgraded shares of HomeStreet from a “sell” rating to a “hold” rating in a report on Wednesday, July 4th. B. Riley lifted their price objective on shares of HomeStreet from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, ValuEngine upgraded shares of HomeStreet from a “hold” rating to a “buy” rating in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $31.33.

Shares of HMST opened at $26.49 on Monday. HomeStreet has a 1-year low of $24.50 and a 1-year high of $32.60. The stock has a market cap of $704.63 million, a P/E ratio of 15.77, a P/E/G ratio of 2.44 and a beta of 0.33. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.02 and a quick ratio of 0.95.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings results on Monday, October 22nd. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. HomeStreet had a net margin of 11.41% and a return on equity of 5.94%. The firm had revenue of $109.75 million during the quarter, compared to analysts’ expectations of $114.14 million. During the same period in the previous year, the company earned $0.51 EPS.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. OppenheimerFunds Inc. raised its holdings in shares of HomeStreet by 16.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 12,934 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 1,795 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of HomeStreet by 4.9% in the 2nd quarter. Bank of America Corp DE now owns 55,155 shares of the financial services provider’s stock valued at $1,487,000 after purchasing an additional 2,584 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of HomeStreet by 5.3% in the 2nd quarter. Legal & General Group Plc now owns 52,913 shares of the financial services provider’s stock valued at $1,434,000 after purchasing an additional 2,656 shares in the last quarter. Strs Ohio raised its holdings in shares of HomeStreet by 9.7% in the 2nd quarter. Strs Ohio now owns 30,600 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 2,700 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of HomeStreet by 5.3% in the 1st quarter. California Public Employees Retirement System now owns 55,496 shares of the financial services provider’s stock valued at $1,590,000 after purchasing an additional 2,815 shares in the last quarter. Institutional investors own 81.21% of the company’s stock.

In related news, EVP Mary L. Vincent sold 8,459 shares of HomeStreet stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $29.57, for a total transaction of $250,132.63. Following the completion of the sale, the executive vice president now owns 14,123 shares in the company, valued at approximately $417,617.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.64% of the company’s stock.

About HomeStreet

HomeStreet, Inc, together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking. The Commercial and Consumer Banking segment offers deposit products; non-deposit investment products; and insurance products and cash management services.

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Earnings History and Estimates for HomeStreet (NASDAQ:HMST)

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