Shares of HomeStreet Inc (NASDAQ:HMST) have earned an average rating of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $30.40.
Several research analysts recently weighed in on the company. ValuEngine lowered HomeStreet from a “hold” rating to a “sell” rating in a research report on Tuesday, July 28th. Wedbush began coverage on HomeStreet in a research note on Wednesday, June 24th. They set a “neutral” rating and a $28.00 target price for the company. They noted that the move was a valuation call. BidaskClub downgraded HomeStreet from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Zacks Investment Research upgraded HomeStreet from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. Finally, TheStreet upgraded HomeStreet from a “c+” rating to a “b-” rating in a research note on Friday, August 14th.
NASDAQ HMST opened at $27.29 on Thursday. The company has a market cap of $619.67 million, a PE ratio of 12.93 and a beta of 1.04. The stock’s 50 day simple moving average is $27.37 and its 200-day simple moving average is $24.46. HomeStreet has a 1-year low of $18.44 and a 1-year high of $35.44. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.99 and a quick ratio of 0.93.
HomeStreet (NASDAQ:HMST) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.50. The company had revenue of $88.10 million during the quarter, compared to the consensus estimate of $76.79 million. HomeStreet had a return on equity of 8.19% and a net margin of 13.45%. On average, equities research analysts anticipate that HomeStreet will post 2.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Friday, August 7th were issued a $0.15 dividend. The ex-dividend date was Thursday, August 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.20%. HomeStreet’s dividend payout ratio is currently 35.29%.
In other HomeStreet news, Director Nancy D. Pellegrino purchased 1,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were bought at an average price of $27.71 per share, with a total value of $27,710.00. Following the completion of the acquisition, the director now owns 1,811 shares in the company, valued at approximately $50,182.81. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Robert Patterson purchased 13,000 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $25.63 per share, for a total transaction of $333,190.00. Following the acquisition, the director now owns 13,676 shares of the company’s stock, valued at approximately $350,515.88. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 29,258 shares of company stock worth $770,681. Corporate insiders own 3.62% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in shares of HomeStreet by 71.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,320 shares of the financial services provider’s stock worth $52,000 after buying an additional 970 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in shares of HomeStreet in the 1st quarter worth approximately $63,000. SG Americas Securities LLC lifted its position in shares of HomeStreet by 23.1% in the 1st quarter. SG Americas Securities LLC now owns 7,326 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 1,376 shares during the period. IndexIQ Advisors LLC acquired a new position in shares of HomeStreet in the 1st quarter worth approximately $191,000. Finally, Royal Bank of Canada lifted its position in shares of HomeStreet by 402.0% in the 1st quarter. Royal Bank of Canada now owns 9,323 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 7,466 shares during the period. 85.29% of the stock is currently owned by 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.
Further Reading: Overbought
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