HomeStreet (NASDAQ:HMST) Downgraded by BidaskClub to Buy

HomeStreet (NASDAQ:HMST) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, June 26th, BidAskClub reports.

A number of other research firms have also recently weighed in on HMST. Sandler O’Neill upgraded shares of HomeStreet from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Friday, April 5th. ValuEngine cut shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. TheStreet cut shares of UDR from a “b” rating to a “c” rating in a research report on Tuesday, April 30th. DA Davidson upped their price objective on shares of HomeStreet to $32.00 and gave the company a “positive” rating in a report on Monday, April 8th. Finally, FIG Partners reissued a “market-perform” rating on shares of Berkshire Hills Bancorp in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.88.

Shares of HMST traded down $0.24 during trading hours on Wednesday, hitting $27.79. The stock had a trading volume of 234,295 shares, compared to its average volume of 170,223. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.03 and a quick ratio of 1.02. The business’s 50-day moving average is $29.70. HomeStreet has a fifty-two week low of $20.50 and a fifty-two week high of $31.96. The firm has a market cap of $764.27 million, a price-to-earnings ratio of 18.78, a price-to-earnings-growth ratio of 2.21 and a beta of 0.67.

HomeStreet (NASDAQ:HMST) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). The firm had revenue of $55.65 million during the quarter, compared to analyst estimates of $102.33 million. HomeStreet had a net margin of 7.02% and a return on equity of 5.87%. During the same quarter in the prior year, the firm earned $0.21 earnings per share. As a group, research analysts expect that HomeStreet will post 1.83 EPS for the current fiscal year.

In other news, Director Sandra A. Cavanaugh acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were purchased at an average cost of $28.67 per share, for a total transaction of $143,350.00. Following the transaction, the director now directly owns 6,107 shares in the company, valued at approximately $175,087.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Amen Darrell Van purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were purchased at an average cost of $30.75 per share, with a total value of $61,500.00. Following the purchase, the executive vice president now directly owns 38,858 shares in the company, valued at $1,194,883.50. The disclosure for this purchase can be found here. Insiders have bought 9,000 shares of company stock worth $261,590 in the last three months. Corporate insiders own 1.64% of the company’s stock.

A number of hedge funds have recently made changes to their positions in HMST. Bank of Montreal Can boosted its stake in shares of HomeStreet by 110.5% in the fourth quarter. Bank of Montreal Can now owns 2,261 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,187 shares during the period. Rhumbline Advisers raised its holdings in HomeStreet by 20.2% in the fourth quarter. Rhumbline Advisers now owns 76,479 shares of the financial services provider’s stock valued at $1,624,000 after acquiring an additional 12,851 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in HomeStreet in the fourth quarter valued at approximately $218,000. Prudential Financial Inc. raised its holdings in HomeStreet by 2.9% during the fourth quarter. Prudential Financial Inc. now owns 46,323 shares of the financial services provider’s stock worth $983,000 after purchasing an additional 1,323 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in HomeStreet by 575.4% during the fourth quarter. Acadian Asset Management LLC now owns 41,435 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 35,300 shares in the last quarter. 81.63% of the stock is owned by hedge funds and other institutional investors.

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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