HomeStreet (NASDAQ:HMST) was upgraded by stock analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued on Thursday, November 7th, TheStreetRatingsTable reports.
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Several other research firms have also recently weighed in on HMST. ValuEngine cut shares of HomeStreet from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised shares of HomeStreet from a “sell” rating to a “hold” rating in a report on Saturday, October 26th. BidaskClub raised shares of HomeStreet from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. Finally, DA Davidson raised shares of HomeStreet from an “underperform” rating to a “neutral” rating and set a $27.00 price objective for the company in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.50.
Shares of NASDAQ HMST traded up $0.45 during midday trading on Thursday, reaching $31.67. The company’s stock had a trading volume of 193,800 shares, compared to its average volume of 200,126. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.89 and a current ratio of 0.91. The company has a market cap of $762.10 million, a P/E ratio of 21.40 and a beta of 0.68. HomeStreet has a fifty-two week low of $20.50 and a fifty-two week high of $35.44. The business’s 50 day moving average price is $28.98 and its two-hundred day moving average price is $28.52.
HomeStreet (NASDAQ:HMST) last issued its earnings results on Monday, October 21st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.21. HomeStreet had a net margin of 5.66% and a return on equity of 4.88%. The business had revenue of $71.71 million during the quarter, compared to analysts’ expectations of $67.04 million. During the same period in the previous year, the company earned $0.45 earnings per share. Sell-side analysts forecast that HomeStreet will post 1.48 earnings per share for the current fiscal year.
In other HomeStreet news, Director Victor H. Indiek sold 3,272 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $31.28, for a total transaction of $102,348.16. Following the completion of the sale, the director now directly owns 5,693 shares of the company’s stock, valued at $178,077.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.64% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in HMST. Acadian Asset Management LLC grew its position in HomeStreet by 30.5% during the 2nd quarter. Acadian Asset Management LLC now owns 144,623 shares of the financial services provider’s stock worth $4,287,000 after acquiring an additional 33,762 shares during the last quarter. Boston Partners grew its stake in HomeStreet by 13.4% in the second quarter. Boston Partners now owns 1,149,315 shares of the financial services provider’s stock valued at $34,066,000 after purchasing an additional 135,999 shares in the last quarter. JPMorgan Chase & Co. grew its stake in HomeStreet by 22.6% in the second quarter. JPMorgan Chase & Co. now owns 188,957 shares of the financial services provider’s stock valued at $5,495,000 after purchasing an additional 34,882 shares in the last quarter. Congress Asset Management Co. MA grew its stake in HomeStreet by 51.5% in the third quarter. Congress Asset Management Co. MA now owns 139,280 shares of the financial services provider’s stock valued at $3,805,000 after purchasing an additional 47,330 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in HomeStreet by 14.1% in the second quarter. Russell Investments Group Ltd. now owns 2,197,765 shares of the financial services provider’s stock valued at $65,132,000 after purchasing an additional 270,958 shares in the last quarter. 88.17% of the stock is owned by institutional investors and hedge funds.
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.