HomeStreet, Inc. (HMST) Raised to “Hold” at BidaskClub

HomeStreet, Inc. (NASDAQ:HMST) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday, August 1st.

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

HomeStreet (HMST) opened at 24.70 on Tuesday. The company has a market cap of $664.03 million, a PE ratio of 12.84 and a beta of 0.05. The stock has a 50 day moving average price of $26.61 and a 200 day moving average price of $26.89. HomeStreet has a 1-year low of $23.51 and a 1-year high of $33.70.

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

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In other news, EVP William Endresen sold 1,000 shares of HomeStreet stock in a transaction 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 approximately $32,034.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.59% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. First Interstate Bank boosted its stake in HomeStreet by 80.4% in the first quarter. First Interstate Bank now owns 3,915 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,745 shares during the period. SG Americas Securities LLC purchased a new stake in HomeStreet during the second quarter valued at approximately $117,000. State of Alaska Department of Revenue boosted its stake in HomeStreet by 90.7% in the second quarter. State of Alaska Department of Revenue now owns 5,321 shares of the financial services provider’s stock valued at $147,000 after buying an additional 2,531 shares during the period. Mason Street Advisors LLC boosted its stake in HomeStreet by 15.5% in the first quarter. Mason Street Advisors LLC now owns 5,891 shares of the financial services provider’s stock valued at $165,000 after buying an additional 789 shares during the period. Finally, Airain ltd purchased a new stake in HomeStreet during the first quarter valued at approximately $211,000. 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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