HomeStreet (NASDAQ:HMST) Upgraded by TheStreet to B

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

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

Shares of HomeStreet stock traded down $0.04 during mid-day trading on Thursday, reaching $31.07. 91,900 shares of the stock were exchanged, compared to its average volume of 165,332. HomeStreet has a fifty-two week low of $20.50 and a fifty-two week high of $35.44. The firm has a 50-day simple moving average of $28.56 and a 200 day simple moving average of $28.43. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.19. The company has a market cap of $762.17 million, a price-to-earnings ratio of 20.99 and a beta of 0.68.

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

In other HomeStreet news, Director Victor H. Indiek sold 3,272 shares of HomeStreet stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $31.28, for a total value of $102,348.16. Following the transaction, the director now owns 5,693 shares of the company’s stock, valued at $178,077.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.64% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its stake in HomeStreet by 14.1% in the second quarter. Russell Investments Group Ltd. now owns 2,197,765 shares of the financial services provider’s stock valued at $65,132,000 after buying an additional 270,958 shares in the last quarter. Vanguard Group Inc. lifted its stake in HomeStreet by 0.9% in the second quarter. Vanguard Group Inc. now owns 1,726,154 shares of the financial services provider’s stock valued at $51,164,000 after buying an additional 15,494 shares in the last quarter. Boston Partners lifted its stake in HomeStreet by 13.4% in the second quarter. Boston Partners now owns 1,149,315 shares of the financial services provider’s stock valued at $34,066,000 after buying an additional 135,999 shares in the last quarter. Investment Counselors of Maryland LLC raised its holdings in shares of HomeStreet by 1.0% in the second quarter. Investment Counselors of Maryland LLC now owns 792,269 shares of the financial services provider’s stock valued at $23,483,000 after purchasing an additional 8,125 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of HomeStreet by 2.4% in the second quarter. Northern Trust Corp now owns 494,199 shares of the financial services provider’s stock valued at $14,648,000 after purchasing an additional 11,761 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: What are different types of coverage ratios?

Receive News & Ratings for HomeStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HomeStreet and related companies with MarketBeat.com's FREE daily email newsletter.