BidaskClub Lowers HomeStreet, Inc. (HMST) to Sell

BidaskClub downgraded shares of HomeStreet, Inc. (NASDAQ:HMST) from a hold rating to a sell rating in a report published on Monday, August 7th.

Several other research analysts have also recently commented on the company. ValuEngine cut HomeStreet from a buy rating to a hold rating in a research report on Thursday, August 3rd. FIG Partners reissued a market perform rating and set a $26.25 price target (down from $29.25) on shares of HomeStreet in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a buy rating and set a $31.00 price target on shares of HomeStreet in a research report on Friday, July 14th. Finally, Zacks Investment Research cut HomeStreet from a hold rating to a strong sell rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $29.45.

HomeStreet (HMST) traded up 1.86% during midday trading on Monday, reaching $24.70. The company had a trading volume of 205,328 shares. HomeStreet has a 52-week low of $23.51 and a 52-week high of $33.70. The company’s 50-day moving average is $26.61 and its 200 day moving average is $26.89. The company has a market cap of $664.03 million, a PE ratio of 12.84 and a beta of 0.05.

HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.18. The firm had revenue of $127.88 million for the quarter, compared to the consensus estimate of $143.41 million. HomeStreet had a return on equity of 8.10% and a net margin of 8.89%. During the same quarter in the previous year, the business posted $0.90 earnings per share. On average, equities research analysts forecast that HomeStreet will post $1.56 EPS for the current year.

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In other news, EVP William Endresen sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $27.38, for a total value of $27,380.00. Following the completion of the sale, the executive vice president now directly owns 1,170 shares of the company’s stock, valued at $32,034.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.59% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank boosted its stake in HomeStreet by 4.2% in the first quarter. Swiss National Bank now owns 34,900 shares of the financial services provider’s stock worth $975,000 after buying an additional 1,400 shares during the last quarter. Stifel Financial Corp boosted its stake in HomeStreet by 28.1% in the first quarter. Stifel Financial Corp now owns 55,100 shares of the financial services provider’s stock worth $1,540,000 after buying an additional 12,100 shares during the last quarter. Comerica Bank boosted its stake in HomeStreet by 13.3% in the first quarter. Comerica Bank now owns 28,119 shares of the financial services provider’s stock worth $754,000 after buying an additional 3,291 shares during the last quarter. Fisher Asset Management LLC boosted its stake in HomeStreet by 56.8% in the first quarter. Fisher Asset Management LLC now owns 67,187 shares of the financial services provider’s stock worth $1,878,000 after buying an additional 24,346 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in HomeStreet by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 21,812 shares of the financial services provider’s stock valued at $610,000 after buying an additional 3,292 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

HomeStreet Company Profile

HomeStreet, Inc is a financial services company serving customers primarily in the western United States, including Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. The Company’s operating segments include Commercial and Consumer Banking, and Mortgage Banking.

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