HomeStreet (HMST) Lowered to “Buy” at ValuEngine

ValuEngine downgraded shares of HomeStreet (NASDAQ:HMST) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

Other analysts have also issued reports about the stock. BidaskClub upgraded shares of HomeStreet from a hold rating to a buy rating in a research report on Wednesday, March 14th. B. Riley reiterated a hold rating and set a $30.00 target price on shares of HomeStreet in a report on Wednesday, January 24th. Zacks Investment Research lowered shares of HomeStreet from a buy rating to a hold rating in a report on Tuesday, February 27th. Sandler O’Neill set a $31.00 target price on shares of HomeStreet and gave the stock a hold rating in a report on Thursday, March 29th. Finally, Keefe, Bruyette & Woods lowered shares of HomeStreet from an outperform rating to a market perform rating in a report on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. HomeStreet presently has an average rating of Hold and a consensus price target of $30.75.

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NASDAQ HMST opened at $26.23 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 1.05 and a debt-to-equity ratio of 1.57. HomeStreet has a 12-month low of $24.00 and a 12-month high of $32.60. The stock has a market cap of $736.33, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.43 and a beta of 0.34.



HomeStreet (NASDAQ:HMST) last posted its quarterly earnings results on Monday, April 23rd. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.20). HomeStreet had a net margin of 12.13% and a return on equity of 6.66%. The business had revenue of $109.29 million for the quarter, compared to analysts’ expectations of $116.75 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. sell-side analysts predict that HomeStreet will post 1.9 earnings per share for the current fiscal year.

In other news, CEO Mark K. Mason sold 2,208 shares of the stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $28.52, for a total transaction of $62,972.16. Following the completion of the sale, the chief executive officer now directly owns 136,580 shares in the company, valued at $3,895,261.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark K. Mason sold 6,934 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $29.53, for a total transaction of $204,761.02. Following the sale, the chief executive officer now owns 131,293 shares of the company’s stock, valued at $3,877,082.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,414 shares of company stock valued at $426,792. 1.64% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in HomeStreet by 11.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 20,017 shares of the financial services provider’s stock worth $579,000 after buying an additional 1,990 shares in the last quarter. American International Group Inc. raised its stake in HomeStreet by 10.5% in the fourth quarter. American International Group Inc. now owns 21,451 shares of the financial services provider’s stock worth $621,000 after buying an additional 2,043 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in HomeStreet by 2.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 113,314 shares of the financial services provider’s stock worth $3,281,000 after buying an additional 2,298 shares in the last quarter. California Public Employees Retirement System raised its stake in HomeStreet by 6.5% in the third quarter. California Public Employees Retirement System now owns 48,117 shares of the financial services provider’s stock worth $1,299,000 after buying an additional 2,917 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in HomeStreet by 8.5% in the fourth quarter. California State Teachers Retirement System now owns 42,562 shares of the financial services provider’s stock worth $1,232,000 after buying an additional 3,317 shares in the last quarter. Institutional investors own 79.57% of the company’s stock.

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About HomeStreet

HomeStreet, Inc, together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking. The Commercial and Consumer Banking segment offers deposit products; non-deposit investment products; and insurance products and cash management services.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for HomeStreet (NASDAQ:HMST)

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