Zacks Investment Research upgraded shares of HomeStreet (NASDAQ:HMST) from a sell rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “HomeStreet, Inc. is a diversified financial services company. The Company is engaged in real estate lending, including mortgage banking activities and retail and business banking operations and serves consumers and businesses in the Pacific Northwest and Hawaii. It offers deposit and investment products and cash management services and single family loans and commercial loans. HomeStreet’s primary subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. It operates in Washington, Oregon, Idaho and Hawaii. HomeStreet, Inc. is headquartered in Seattle, Washington. “
A number of other research firms have also recently commented on HMST. BidaskClub raised shares of HomeStreet from a hold rating to a buy rating in a research report on Wednesday, March 14th. Sandler O’Neill set a $31.00 target price on shares of HomeStreet and gave the company a hold rating in a research report on Thursday, March 29th. B. Riley raised shares of HomeStreet from a neutral rating to a buy rating and upped their target price for the company from $30.00 to $35.00 in a research report on Monday, June 11th. ValuEngine cut shares of HomeStreet from a buy rating to a hold rating in a research report on Saturday, June 2nd. Finally, DA Davidson decreased their target price on shares of HomeStreet to $28.00 and set a neutral rating on the stock in a research report on Wednesday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $30.32.
Shares of HomeStreet opened at $27.95 on Wednesday, MarketBeat reports. HomeStreet has a twelve month low of $24.00 and a twelve month high of $32.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.92 and a current ratio of 1.02. The stock has a market cap of $748.61 million, a PE ratio of 16.64, a PEG ratio of 1.68 and a beta of 0.33.
HomeStreet (NASDAQ:HMST) last posted its earnings results on Monday, April 23rd. The financial services provider reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.20). HomeStreet had a net margin of 12.13% and a return on equity of 6.60%. The company had revenue of $109.29 million during the quarter, compared to analyst estimates of $116.75 million. During the same period in the previous year, the company earned $0.33 EPS. analysts forecast that HomeStreet will post 1.65 earnings per share for the current year.
In other HomeStreet news, Director Mark Robert Patterson purchased 5,000 shares of the business’s stock in a transaction on Thursday, April 26th. The shares were bought at an average cost of $25.90 per share, for a total transaction of $129,500.00. Following the completion of the purchase, the director now directly owns 267 shares of the company’s stock, valued at $6,915.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David H. Straus purchased 1,200 shares of the business’s stock in a transaction on Thursday, April 26th. The shares were acquired at an average price of $25.88 per share, for a total transaction of $31,056.00. Following the completion of the purchase, the executive vice president now directly owns 213 shares of the company’s stock, valued at $5,512.44. The disclosure for this purchase can be found here. Insiders have acquired 6,400 shares of company stock worth $165,674 over the last quarter. Insiders own 1.64% of the company’s stock.
Large investors have recently modified their holdings of the business. Sei Investments Co. increased its stake in HomeStreet by 438.1% during the first quarter. Sei Investments Co. now owns 4,380 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 3,566 shares during the period. Elkfork Partners LLC purchased a new stake in HomeStreet during the fourth quarter worth about $129,000. Dynamic Technology Lab Private Ltd purchased a new stake in HomeStreet during the first quarter worth about $228,000. Teacher Retirement System of Texas purchased a new stake in HomeStreet during the fourth quarter worth about $256,000. Finally, Element Capital Management LLC purchased a new stake in HomeStreet during the first quarter worth about $257,000. Institutional investors own 80.35% of the company’s stock.
HomeStreet Company Profile
HomeStreet, Inc, together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking. The Commercial and Consumer Banking segment offers deposit products; non-deposit investment products; and insurance products and cash management services.
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