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

HomeStreet (NASDAQ:HMST) posted its quarterly earnings data 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 net margin of 5.44% and a negative return on equity of 3.40%.

HomeStreet Price Performance

Shares of NASDAQ:HMST opened at $10.07 on Wednesday. The company’s 50-day moving average price is $11.04 and its two-hundred day moving average price is $13.00. 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 one year low of $8.09 and a one year high of $16.10.

Analyst Upgrades and Downgrades

Several research firms recently commented on HMST. Janney Montgomery Scott cut shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Wedbush boosted their price objective on shares of HomeStreet from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th.

Insiders Place Their Bets

In other news, CFO John Michel sold 8,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $11.26, for a total transaction of $90,080.00. Following the transaction, the chief financial officer now directly owns 28,409 shares in the company, valued at $319,885.34. The trade was a 21.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David L. Parr sold 5,210 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $11.53, for a total transaction of $60,071.30. The disclosure for this sale can be found here. Insiders have sold 17,846 shares of company stock valued at $203,697 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

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.