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HomeStreet (HMST) Reports Q2 Earnings: What Key Metrics Have to Say
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HomeStreet (HMST - Free Report) reported $53.79 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 26.4%. EPS of $0.17 for the same period compares to $0.94 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $57.07 million, representing a surprise of -5.75%. The company delivered an EPS surprise of -15.00%, with the consensus EPS estimate being $0.20.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how HomeStreet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 93.7% versus the three-analyst average estimate of 89.94%.
Net Interest Margin: 1.93% compared to the 2.03% average estimate based on three analysts.
Average Balance - Total interest earning assets: $9.11 billion versus the two-analyst average estimate of $9.11 billion.
Total noninterest income: $10.31 million compared to the $11.03 million average estimate based on three analysts.
Net gain on loan origination and sale activities: $2.46 million compared to the $2.20 million average estimate based on two analysts.
Net Interest Income: $43.48 million versus the two-analyst average estimate of $46.70 million.
Shares of HomeStreet have returned +60.9% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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HomeStreet (HMST) Reports Q2 Earnings: What Key Metrics Have to Say
HomeStreet (HMST - Free Report) reported $53.79 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 26.4%. EPS of $0.17 for the same period compares to $0.94 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $57.07 million, representing a surprise of -5.75%. The company delivered an EPS surprise of -15.00%, with the consensus EPS estimate being $0.20.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how HomeStreet performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 93.7% versus the three-analyst average estimate of 89.94%.
- Net Interest Margin: 1.93% compared to the 2.03% average estimate based on three analysts.
- Average Balance - Total interest earning assets: $9.11 billion versus the two-analyst average estimate of $9.11 billion.
- Total noninterest income: $10.31 million compared to the $11.03 million average estimate based on three analysts.
- Net gain on loan origination and sale activities: $2.46 million compared to the $2.20 million average estimate based on two analysts.
- Net Interest Income: $43.48 million versus the two-analyst average estimate of $46.70 million.
View all Key Company Metrics for HomeStreet here>>>Shares of HomeStreet have returned +60.9% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.