HomeStreet (HMST) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, HomeStreet (HMST) reported revenue of $49.38 million, down 31.5% over the same period last year. EPS came in at $0.12, compared to $1.08 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $52.27 million, representing a surprise of -5.53%. The company delivered an EPS surprise of +140.00%, with the consensus EPS estimate being $0.05.
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: 98.3% versus 97.4% estimated by three analysts on average.
Net Interest Margin: 1.7% versus 1.9% estimated by three analysts on average.
Average Balance - Total interest earning assets: $9.01 billion versus $8.74 billion estimated by two analysts on average.
Total noninterest income: $10.46 million versus the three-analyst average estimate of $10.46 million.
Net Interest Income: $38.91 million versus $42.30 million estimated by three analysts on average.
Net gain on loan origination and sale activities: $2.37 million versus the three-analyst average estimate of $2 million.
Deposit fees: $2.46 million versus the two-analyst average estimate of $2.88 million.
Loan servicing income: $3.09 million compared to the $3.79 million average estimate based on two analysts.
Other: $2.55 million versus $1.97 million estimated by two analysts on average.
View all Key Company Metrics for HomeStreet here>>>
Shares of HomeStreet have returned -42.2% over the past month versus the Zacks S&P 500 composite's -3.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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HomeStreet, Inc. (HMST) : Free Stock Analysis Report
