HomeStreet (NASDAQ:HMST) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

HomeStreet (NASDAQ:HMST) issued its quarterly earnings results on Monday. The financial services provider reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05), Zacks reports. HomeStreet had a negative return on equity of 3.40% and a negative net margin of 5.44%.

HomeStreet Stock Performance

HMST stock traded up $0.26 during midday trading on Monday, hitting $10.43. 393,573 shares of the company traded hands, compared to its average volume of 183,996. HomeStreet has a twelve month low of $8.09 and a twelve month high of $16.10. The stock has a market capitalization of $196.71 million, a price-to-earnings ratio of -8.02 and a beta of 1.48. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 3.94. The business has a 50 day simple moving average of $11.08 and a 200-day simple moving average of $13.04.

Analysts Set New Price Targets

Several equities analysts have weighed in on HMST shares. Wedbush lifted their target price 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 lowered shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Insiders Place Their Bets

In related news, EVP Godfrey B. Evans sold 4,636 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $11.55, for a total value of $53,545.80. Following the completion of the transaction, the executive vice president now directly owns 67,049 shares of the company’s stock, valued at $774,415.95. This trade represents a 6.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joanne R. Harrell purchased 2,146 shares of the stock in a transaction on Tuesday, November 26th. The stock was acquired at an average cost of $11.65 per share, for a total transaction of $25,000.90. Following the acquisition, the director now directly owns 17,053 shares in the company, valued at approximately $198,667.45. This trade represents a 14.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 17,846 shares of company stock valued at $203,697 in the last quarter. Insiders own 4.60% of the company’s stock.

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.