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Homestreet Inc. (HMST)
NASDAQ:HMST
Earnings Data
Report Date
Apr 28, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.05Last Year’s EPS
-0.4Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 27, 2025
|% Change Since: -6.04%
|Next Earnings Date:Apr 28, 2025
Earnings Call Sentiment|Negative
The earnings call reveals significant financial challenges faced by HomeStreet Bank, including a major net loss and increased nonperforming assets. However, there are positive strategic steps being taken, such as improving liquidity and reducing noninterest expenses, with an expectation of returning to profitability in the near future.Company Guidance
In the fourth quarter of 2024, HomeStreet Bank reported a significant net loss of $123.3 million, equivalent to $6.54 per share, compared to a net loss of $7.3 million or $0.39 per share in the previous quarter. This loss was primarily driven by an $88.8 million pretax loss on the sale of $990 million in multifamily loans, alongside a $53.3 million deferred tax asset valuation allowance. However, on a core basis, excluding these impacts and merger-related expenses, the net loss was reduced to $5.1 million or $0.27 per share. The bank's net interest income increased by $1 million due to a rise in the net interest margin from 1.33% to 1.38%, despite a decrease in noninterest income. The ratio of nonperforming assets to total assets increased to 71 basis points, and loans delinquent over 30 days rose to 106 basis points. HomeStreet Bank's restructuring efforts, including the loan sale, improved liquidity and lowered the loan-to-deposit ratio to 97.4%, with expectations of a return to profitability in the first half of 2025.Decrease in Noninterest Expenses
Noninterest expenses were $5.2 million lower in the fourth quarter of 2024 due to a decrease in compensation benefits and administrative expenses.
Improved Liquidity Position
Following the sale of $990 million in multifamily loans, the bank improved its liquidity position, increasing cash and securities balances to $1.5 billion, which is 18% of total assets.
Continued Loan Repricing and Profitability Expectations
The bank anticipates returning to profitability in the first half of the next year due to loan repricing, reduction in borrowings, and expected reductions in short-term interest rates.
Strong Deposit Loyalty
Despite various challenges, the bank maintained a high roll rate on certificates of deposit and reported low levels of uninsured deposits at 9%.
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HMST Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HMST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 27, 2025 | $10.43 | $10.07 | -3.45% |
| Oct 29, 2024 | $13.92 | $9.06 | -34.91% |
| Jul 29, 2024 | $13.87 | $14.40 | +3.82% |
| Apr 30, 2024 | $12.25 | $10.97 | -10.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Homestreet Inc. (HMST) report earnings?
Homestreet Inc. (HMST) is schdueled to report earning on Apr 28, 2025, TBA Not Confirmed.
What is Homestreet Inc. (HMST) earnings time?
Homestreet Inc. (HMST) earnings time is at Apr 28, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HMST EPS forecast?
HMST EPS forecast for the fiscal quarter 2025 (Q1) is -0.05.
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