HomeStreet Inc. (HMST) Downgraded by Zacks Investment Research to Hold
According to Zacks, “HomeStreet, Inc. is a diversified financial services company. The Company is engaged in real estate lending, including mortgage banking activities and retail and business banking operations and serves consumers and businesses in the Pacific Northwest and Hawaii. It offers deposit and investment products and cash management services and single family loans and commercial loans. HomeStreet’s primary subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. It operates in Washington, Oregon, Idaho and Hawaii. HomeStreet, Inc. is headquartered in Seattle, Washington. “
Other analysts have also recently issued research reports about the stock. DA Davidson cut shares of HomeStreet from a buy rating to a neutral rating and upped their price objective for the company from $27.00 to $29.00 in a research note on Friday, September 9th. FBR & Co reaffirmed a buy rating and set a $29.00 price objective on shares of HomeStreet in a research note on Wednesday, July 27th.
Shares of HomeStreet (NASDAQ:HMST) opened at 25.43 on Wednesday. The stock has a market cap of $631.33 million, a P/E ratio of 12.70 and a beta of 0.09. HomeStreet has a 1-year low of $18.58 and a 1-year high of $27.21. The company has a 50 day moving average price of $25.04 and a 200 day moving average price of $21.98.
HomeStreet (NASDAQ:HMST) last released its quarterly earnings results on Monday, July 25th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.22. HomeStreet had a net margin of 9.50% and a return on equity of 10.01%. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, equities analysts anticipate that HomeStreet will post $2.27 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. Foundry Partners LLC boosted its position in HomeStreet by 0.3% in the second quarter. Foundry Partners LLC now owns 146,505 shares of the company’s stock worth $2,918,000 after buying an additional 375 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in HomeStreet by 3.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,041 shares of the company’s stock worth $334,000 after buying an additional 562 shares during the last quarter. American International Group Inc. boosted its position in HomeStreet by 5.3% in the second quarter. American International Group Inc. now owns 13,606 shares of the company’s stock worth $271,000 after buying an additional 687 shares during the last quarter. Nationwide Fund Advisors boosted its position in HomeStreet by 0.5% in the second quarter. Nationwide Fund Advisors now owns 159,125 shares of the company’s stock worth $3,170,000 after buying an additional 743 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in HomeStreet by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 99,700 shares of the company’s stock worth $1,986,000 after buying an additional 1,317 shares during the last quarter. 72.75% of the stock is owned by hedge funds and other institutional investors.
HomeStreet Company Profile
HomeStreet, Inc is a financial services company serving customers primarily in the western United States, including Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Its operating segments include Commercial and Consumer Banking, and Mortgage Banking.
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