HomeStreet (NASDAQ:HMST) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

HomeStreet (NASDAQ:HMST - Get Free Report) released its quarterly earnings results on Monday. The financial services provider reported ($0.27) earnings per share 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 Trading Up 2.6 %

HomeStreet stock traded up $0.26 during trading hours on Monday, hitting $10.43. The company had a trading volume of 393,573 shares, compared to its average volume of 183,996. The company has a debt-to-equity ratio of 3.94, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $196.71 million, a P/E ratio of -8.02 and a beta of 1.48. The company has a 50-day moving average price of $11.08 and a two-hundred day moving average price of $13.04. HomeStreet has a 1 year low of $8.09 and a 1 year high of $16.10.

Insider Buying and Selling at HomeStreet

In other HomeStreet news, CFO John Michel sold 8,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $11.26, for a total value of $90,080.00. Following the completion of the sale, the chief financial officer now directly owns 28,409 shares in the company, valued at approximately $319,885.34. This trade represents a 21.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Godfrey B. Evans sold 4,636 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $11.55, for a total transaction of $53,545.80. Following the transaction, the executive vice president now owns 67,049 shares in the company, valued at $774,415.95. The trade was a 6.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,846 shares of company stock valued at $203,697 in the last ninety days. Corporate insiders own 4.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on HMST shares. Wedbush lifted 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. Janney Montgomery Scott downgraded shares of HomeStreet from a "strong-buy" rating to a "hold" rating in a report 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.

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