Compared to Estimates, HomeStreet (HMST) Q1 Earnings: A Look at Key Metrics

For the quarter ended March 2024, HomeStreet (HMST) reported revenue of $41.61 million, down 30.2% over the same period last year. EPS came in at -$0.29, compared to $0.27 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $48.07 million, representing a surprise of -13.44%. The company delivered an EPS surprise of -383.33%, with the consensus EPS estimate being -$0.06.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: 118% compared to the 104% average estimate based on two analysts.

• Net Interest Margin: 1.4% versus the two-analyst average estimate of 1.6%.

• Average Balance - Total interest earning assets: $9.50 billion versus $8.86 billion estimated by two analysts on average.

• Net Interest Income: $32.15 million compared to the $34.71 million average estimate based on two analysts.

• Total noninterest income: $9.45 million versus $11.55 million estimated by two analysts on average.

• Net gain on loan origination and sale activities: $2.31 million versus $2.57 million estimated by two analysts on average.

• Loan servicing income: $3.03 million compared to the $3.71 million average estimate based on two analysts.

• Deposit fees: $2.24 million compared to the $2.16 million average estimate based on two analysts.

• Other: $1.88 million compared to the $3.12 million average estimate based on two analysts.

View all Key Company Metrics for HomeStreet here>>>

Shares of HomeStreet have returned -16% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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