HomeStreet (NASDAQ:HMST) Lifted to “B” at TheStreet

TheStreet upgraded shares of HomeStreet (NASDAQ:HMST) from a c+ rating to a b rating in a research note published on Thursday morning, TheStreetRatingsTable reports.

Several other equities analysts also recently commented on HMST. BidaskClub raised shares of HomeStreet from a sell rating to a hold rating in a research report on Saturday, October 19th. ValuEngine downgraded shares of HomeStreet from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of HomeStreet from a sell rating to a hold rating in a research report on Saturday, October 26th. Finally, DA Davidson raised shares of HomeStreet from an underperform rating to a neutral rating and set a $27.00 target price on the stock in a research report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $31.50.

Shares of NASDAQ:HMST traded down $0.04 on Thursday, reaching $31.07. 91,900 shares of the company traded hands, compared to its average volume of 165,332. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.91 and a quick ratio of 0.89. The stock has a market capitalization of $762.17 million, a PE ratio of 20.99 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 company’s 50 day moving average is $28.56 and its 200-day moving average is $28.43.

HomeStreet (NASDAQ:HMST) last posted its earnings results on Monday, October 21st. The financial services provider reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.21. The firm had revenue of $71.71 million for the quarter, compared to the consensus estimate of $67.04 million. HomeStreet had a net margin of 5.66% and a return on equity of 4.88%. During the same period in the prior year, the business posted $0.45 earnings per share. As a group, analysts expect that HomeStreet will post 1.48 EPS for the current year.

In other HomeStreet news, Director Victor H. Indiek sold 3,272 shares of the company’s stock in a transaction dated 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 in the company, valued at $178,077.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.64% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Congress Asset Management Co. MA boosted its holdings in HomeStreet by 51.5% during 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 acquiring an additional 47,330 shares during the period. California Public Employees Retirement System boosted its holdings in HomeStreet by 29.0% during the third quarter. California Public Employees Retirement System now owns 61,674 shares of the financial services provider’s stock valued at $1,685,000 after acquiring an additional 13,847 shares during the period. State of Tennessee Treasury Department boosted its holdings in HomeStreet by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 11,776 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 926 shares during the period. Virginia Retirement Systems ET AL boosted its holdings in HomeStreet by 13.9% during the third quarter. Virginia Retirement Systems ET AL now owns 42,500 shares of the financial services provider’s stock valued at $1,161,000 after acquiring an additional 5,200 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in HomeStreet during the third quarter valued at about $1,119,000. Institutional investors own 89.10% of the company’s stock.

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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