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

HomeStreet (NASDAQ:HMST) released 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 return on equity of 3.40% and a negative net margin of 5.44%.

HomeStreet Stock Up 2.6 %

HomeStreet stock opened at $10.43 on Tuesday. 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 1-year low of $8.09 and a 1-year high of $16.10. The company’s 50-day moving average is $11.06 and its 200 day moving average is $13.02.

Insider Buying and Selling at HomeStreet

In other HomeStreet news, EVP David L. Parr sold 5,210 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $11.53, for a total value of $60,071.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John Michel sold 8,000 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $319,885.34. This represents a 21.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,846 shares of company stock worth $203,697 over the last 90 days. Company insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

HMST has been the subject of a number of research analyst reports. Janney Montgomery Scott lowered shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Wedbush raised their target price on shares of HomeStreet from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th.

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.