HomeStreet (NASDAQ:HMST) Rating Reiterated by B. Riley

B. Riley reiterated their buy rating on shares of HomeStreet (NASDAQ:HMST) in a research report released on Thursday, Stock Target Advisor reports. B. Riley currently has a $38.00 price objective on the financial services provider’s stock. B. Riley also issued estimates for HomeStreet’s Q4 2019 earnings at $0.47 EPS, FY2019 earnings at $1.52 EPS, Q1 2020 earnings at $0.46 EPS, Q1 2021 earnings at $0.65 EPS, Q2 2021 earnings at $0.79 EPS and Q3 2021 earnings at $0.93 EPS.

A number of other analysts have also weighed in on HMST. TheStreet upgraded shares of HomeStreet from a c+ rating to a b rating in a research note on Thursday, November 7th. Zacks Investment Research upgraded shares of HomeStreet from a hold rating to a buy rating and set a $37.00 price objective for the company in a research note on Wednesday. DA Davidson upgraded shares of HomeStreet from an underperform rating to a neutral rating and set a $27.00 price objective for the company in a research note on Friday, August 16th. ValuEngine lowered shares of HomeStreet from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, BidaskClub raised shares of HomeStreet from a sell rating to a hold rating in a report on Saturday, October 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $33.25.

NASDAQ:HMST traded down $0.11 on Thursday, reaching $33.24. 107,583 shares of the stock traded hands, compared to its average volume of 137,706. The company has a market capitalization of $798.96 million, a price-to-earnings ratio of 22.46 and a beta of 0.71. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.19. HomeStreet has a 12 month low of $20.50 and a 12 month high of $35.44. The company’s fifty day simple moving average is $31.48 and its 200 day simple moving average is $29.00.

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, beating analysts’ consensus estimates of $0.33 by $0.21. The business had revenue of $71.71 million during the quarter, compared to analyst estimates of $67.04 million. HomeStreet had a net margin of 5.66% and a return on equity of 4.88%. During the same period last year, the business earned $0.45 EPS. Equities analysts anticipate that HomeStreet will post 1.48 EPS for the current fiscal year.

In other news, Director Victor H. Indiek sold 3,272 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $31.28, for a total value of $102,348.16. Following the transaction, the director now directly owns 5,693 shares in the company, valued at approximately $178,077.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.64% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its stake in shares of HomeStreet by 1.5% in the second quarter. Prudential Financial Inc. now owns 44,280 shares of the financial services provider’s stock worth $1,312,000 after buying an additional 650 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in HomeStreet by 7.7% during the second quarter. State Board of Administration of Florida Retirement System now owns 9,357 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 670 shares in the last quarter. Swiss National Bank lifted its holdings in HomeStreet by 1.9% during the second quarter. Swiss National Bank now owns 47,700 shares of the financial services provider’s stock valued at $1,414,000 after purchasing an additional 900 shares in the last quarter. State of Tennessee Treasury Department lifted its holdings in HomeStreet by 8.5% during the third quarter. State of Tennessee Treasury Department now owns 11,776 shares of the financial services provider’s stock valued at $322,000 after purchasing an additional 926 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of HomeStreet by 170.9% in the second quarter. Meeder Asset Management Inc. now owns 1,704 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,075 shares during the period. 82.65% 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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