HomeStreet (NASDAQ:HMST) Upgraded to Neutral by DA Davidson

DA Davidson upgraded shares of HomeStreet (NASDAQ:HMST) from an underperform rating to a neutral rating in a report released on Friday morning, BenzingaRatingsTable reports. They currently have $27.00 price objective on the financial services provider’s stock.

A number of other equities research analysts also recently commented on the company. ValuEngine upgraded HomeStreet from a hold rating to a buy rating in a research report on Wednesday, May 1st. BidaskClub upgraded HomeStreet from a sell rating to a hold rating in a research report on Saturday, July 27th. Zacks Investment Research upgraded HomeStreet from a hold rating to a strong-buy rating and set a $33.00 target price on the stock in a research report on Friday, July 26th. FIG Partners downgraded HomeStreet from an outperform rating to a market-perform rating in a research report on Wednesday, May 1st. Finally, TheStreet downgraded HomeStreet from a b rating to a c+ rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $31.20.

Shares of NASDAQ:HMST traded up $0.87 during mid-day trading on Friday, reaching $26.12. The stock had a trading volume of 368,600 shares, compared to its average volume of 139,909. The company has a current ratio of 0.96, a quick ratio of 0.94 and a debt-to-equity ratio of 0.76. The company has a market cap of $629.94 million, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 3.05 and a beta of 0.65. HomeStreet has a 1 year low of $20.50 and a 1 year high of $31.96. The business’s 50 day moving average price is $28.45 and its 200 day moving average price is $28.06.

HomeStreet (NASDAQ:HMST) last posted its earnings results on Monday, July 22nd. The financial services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.41). The firm had revenue of $69.02 million during the quarter, compared to analysts’ expectations of $65.59 million. HomeStreet had a return on equity of 4.74% and a net margin of 4.74%. During the same quarter in the prior year, the firm posted $0.46 earnings per share. Analysts predict that HomeStreet will post 1.21 earnings per share for the current fiscal year.

In related news, EVP Amen Darrell Van acquired 2,000 shares of HomeStreet stock in a transaction on Wednesday, June 12th. The shares were bought at an average cost of $30.75 per share, with a total value of $61,500.00. Following the completion of the purchase, the executive vice president now directly owns 38,858 shares of the company’s stock, valued at approximately $1,194,883.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Godfrey B. Evans acquired 1,000 shares of HomeStreet stock in a transaction on Thursday, July 25th. The shares were bought at an average cost of $28.48 per share, for a total transaction of $28,480.00. Following the completion of the purchase, the executive vice president now directly owns 46,432 shares of the company’s stock, valued at $1,322,383.36. The disclosure for this purchase can be found here. Insiders own 1.64% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Nuveen Asset Management LLC purchased a new position in HomeStreet in the 2nd quarter valued at about $4,310,000. UBS Asset Management Americas Inc. lifted its stake in HomeStreet by 131.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 19,524 shares of the financial services provider’s stock valued at $579,000 after buying an additional 11,096 shares in the last quarter. Citadel Advisors LLC lifted its stake in HomeStreet by 133.7% in the 2nd quarter. Citadel Advisors LLC now owns 80,036 shares of the financial services provider’s stock valued at $2,372,000 after buying an additional 45,790 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in HomeStreet by 17.3% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 101,358 shares of the financial services provider’s stock valued at $3,004,000 after buying an additional 14,958 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in HomeStreet in the 2nd quarter valued at about $585,000. 81.85% of the stock is currently owned by institutional investors.

About HomeStreet

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides commercial and consumer banking services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.

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