HomeStreet (NASDAQ:HMST) Announces Earnings Results

HomeStreet (NASDAQ:HMST) announced its quarterly earnings data on Monday. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05), Zacks reports. HomeStreet had a negative net margin of 5.44% and a negative return on equity of 3.40%.

HomeStreet Price Performance

HomeStreet stock traded up $0.26 during mid-day trading on Monday, hitting $10.43. 393,573 shares of the company were exchanged, compared to its average volume of 183,996. The company has a market capitalization of $196.71 million, a P/E ratio of -8.02 and a beta of 1.48. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.15 and a quick ratio of 1.15. HomeStreet has a 12-month low of $8.09 and a 12-month high of $16.10. The business’s 50 day simple moving average is $11.08 and its two-hundred day simple moving average is $13.04.

Insider Buying and Selling at HomeStreet

In other news, Director Sidney Craig Tompkins bought 5,000 shares of HomeStreet stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $11.49 per share, with a total value of $57,450.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $57,450. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John Michel sold 8,000 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $11.26, for a total value of $90,080.00. Following the transaction, the chief financial officer now owns 28,409 shares of the company’s stock, valued at approximately $319,885.34. This trade represents a 21.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,846 shares of company stock worth $203,697 in the last 90 days. 4.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HMST shares. Wedbush raised their price target on HomeStreet from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Janney Montgomery Scott cut HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

About HomeStreet

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.