Compared to Estimates, HomeStreet (HMST) Q2 Earnings: A Look at Key Metrics

Revenue and Earnings Performance - HomeStreet reported revenue of $42.93 million for the quarter ended June 2024, reflecting a year-over-year decline of 20.2% [3] - The reported revenue was below the Zacks Consensus Estimate of $43.33 million, resulting in a surprise of -0.94% [1] - The company delivered an EPS of -$0.23, compared to $0.17 a year ago, indicating a significant decline [3] Key Financial Metrics - The Efficiency Ratio was reported at 111.9%, slightly better than the average estimate of 112.7% from three analysts [2] - Net Interest Margin remained stable at 1.4%, matching the average estimate [2] - Total noninterest income was $13.23 million, exceeding the average estimate of $10.75 million [2] - Net Interest Income was $29.70 million, below the average estimate of $32.57 million [2] - The average balance of total interest-earning assets was $8.86 billion, lower than the average estimate of $9.02 billion [2] Market Performance - HomeStreet shares have returned +22.7% over the past month, outperforming the Zacks S&P 500 composite, which saw a -0.2% change [6] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [6]