HomeStreet (NASDAQ:HMST) Rating Increased to B at TheStreet

HomeStreet (NASDAQ:HMST) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a research report issued on Thursday, TheStreetRatingsTable reports.

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A number of other research firms have also issued reports on HMST. Zacks Investment Research upgraded HomeStreet from a “sell” rating to a “hold” rating in a research report on Saturday, October 26th. ValuEngine lowered HomeStreet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. DA Davidson upgraded HomeStreet from an “underperform” rating to a “neutral” rating and set a $27.00 price objective for the company in a research report on Friday, August 16th. Finally, BidaskClub upgraded HomeStreet from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $31.50.

Shares of NASDAQ:HMST traded down $0.04 during mid-day trading on Thursday, hitting $31.07. 91,900 shares of the company traded hands, compared to its average volume of 165,332. HomeStreet has a 52-week low of $20.50 and a 52-week high of $35.44. 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 firm has a market cap of $762.17 million, a P/E ratio of 20.99 and a beta of 0.68. The firm’s 50 day simple moving average is $28.56 and its 200 day simple moving average is $28.43.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.21. HomeStreet had a return on equity of 4.88% and a net margin of 5.66%. The business had revenue of $71.71 million during the quarter, compared to analyst estimates of $67.04 million. During the same quarter in the previous year, the firm posted $0.45 EPS. Equities research analysts expect that HomeStreet will post 1.48 EPS for the current fiscal year.

In related news, Director Victor H. Indiek sold 3,272 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $31.28, for a total transaction of $102,348.16. Following the completion of the transaction, the director now owns 5,693 shares in the company, valued at approximately $178,077.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.64% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its position in HomeStreet by 14.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,197,765 shares of the financial services provider’s stock worth $65,132,000 after acquiring an additional 270,958 shares during the period. Vanguard Group Inc. boosted its position in HomeStreet by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,726,154 shares of the financial services provider’s stock worth $51,164,000 after acquiring an additional 15,494 shares during the period. Boston Partners boosted its position in HomeStreet by 13.4% during the 2nd quarter. Boston Partners now owns 1,149,315 shares of the financial services provider’s stock worth $34,066,000 after acquiring an additional 135,999 shares during the period. Investment Counselors of Maryland LLC boosted its position in HomeStreet by 1.0% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 792,269 shares of the financial services provider’s stock worth $23,483,000 after acquiring an additional 8,125 shares during the period. Finally, Northern Trust Corp boosted its position in HomeStreet by 2.4% during the 2nd quarter. Northern Trust Corp now owns 494,199 shares of the financial services provider’s stock worth $14,648,000 after acquiring an additional 11,761 shares during the period. Institutional investors own 89.10% of the company’s stock.

HomeStreet Company Profile

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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