HomeStreet: 3Q Earnings Snapshot

SEATTLE – HomeStreet Inc. (HMST) on Monday reported third-quarter net income of $11.8 million.

The Seattle-based company said it had profit of 44 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The real estate lender posted revenue of $127.8 million in the period. Its adjusted revenue was $109.8 million, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $114.1 million.

HomeStreet shares have dropped 12 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $25.44, a fall of 12 percent in the past 12 months.