HomeStreet (NASDAQ:HMST) Posts Earnings Results, Misses Estimates By $0.12 EPS

HomeStreet (NASDAQ:HMST) issued its earnings results on Tuesday. The financial services provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12), reports. HomeStreet had a negative net margin of 3.30% and a negative return on equity of 1.87%. The business had revenue of $39.68 million during the quarter, compared to analyst estimates of $42.93 million.

HomeStreet Stock Performance

HMST stock traded up $0.13 during midday trading on Thursday, hitting $9.19. 10,962 shares of the company traded hands, compared to its average volume of 194,347. HomeStreet has a twelve month low of $4.38 and a twelve month high of $16.10. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 4.06. The stock has a market capitalization of $173.31 million, a price-to-earnings ratio of -4.28 and a beta of 1.37. The business has a 50 day simple moving average of $15.10 and a 200-day simple moving average of $12.85.

Insider Activity

In other HomeStreet news, Director Paulette Lemon sold 2,401 shares of HomeStreet stock in a transaction on Friday, August 30th. The stock was sold at an average price of $15.59, for a total transaction of $37,431.59. Following the completion of the transaction, the director now directly owns 16,923 shares of the company’s stock, valued at approximately $263,829.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.60% of the stock is owned by company insiders.

Institutional Trading of HomeStreet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new stake in shares of HomeStreet during the 2nd quarter valued at $122,000. EMC Capital Management increased its stake in HomeStreet by 16.2% in the 1st quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $130,000 after buying an additional 1,201 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in HomeStreet by 23.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock valued at $164,000 after buying an additional 2,703 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in HomeStreet by 10.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock valued at $218,000 after buying an additional 1,354 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in HomeStreet in the 2nd quarter valued at $410,000. 74.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HMST shares. Keefe, Bruyette & Woods increased their price objective on HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. StockNews.com initiated coverage on HomeStreet in a report on Sunday, September 22nd. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.25.

HomeStreet Company Profile

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services in the Western United States. The company offers personal and business checking, savings, interest-bearing negotiable order of withdrawal, and money market accounts, as well as certificates of deposit; credit cards; insurance; and treasury management services.