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

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

HomeStreet Price Performance

NASDAQ HMST traded up $0.13 during trading hours on Thursday, reaching $9.19. The company’s stock had a trading volume of 10,962 shares, compared to its average volume of 194,347. The stock has a market cap of $173.31 million, a PE ratio of -4.28 and a beta of 1.37. HomeStreet has a fifty-two week low of $4.38 and a fifty-two week high of $16.10. The company’s 50-day moving average is $15.10 and its two-hundred day moving average is $12.85. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.14 and a current ratio of 1.14.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods upped their target price on shares of HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. StockNews.com began coverage on shares of HomeStreet in a research note on Sunday, September 22nd. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.25.

Insider Activity at HomeStreet

In related news, Director Paulette Lemon sold 2,401 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $15.59, for a total value of $37,431.59. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Endeavour Capital Advisors Inc. grew its position in shares of HomeStreet by 113.6% during the second quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock worth $8,051,000 after acquiring an additional 375,581 shares during the last quarter. Dimensional Fund Advisors LP grew its position in HomeStreet by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock valued at $7,299,000 after buying an additional 28,874 shares in the last quarter. Mendon Capital Advisors Corp grew its position in HomeStreet by 21.0% in the 2nd quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock valued at $4,138,000 after buying an additional 63,000 shares in the last quarter. Kennedy Capital Management LLC bought a new position in HomeStreet in the 1st quarter valued at about $3,720,000. Finally, Bank of New York Mellon Corp lifted its holdings in HomeStreet by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock valued at $809,000 after acquiring an additional 3,113 shares during the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

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.