HomeStreet Inc. (HMST) Stock Rating Lowered by Sandler O’Neill
HomeStreet Inc. (NASDAQ:HMST) was downgraded by equities research analysts at Sandler O’Neill from a “buy” rating to a “hold” rating in a report released on Monday.
A number of other equities research analysts have also recently commented on HMST. Zacks Investment Research raised shares of HomeStreet from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research note on Thursday, July 28th. FBR & Co increased their price objective on shares of HomeStreet from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, October 25th. Finally, DA Davidson cut shares of HomeStreet from a “buy” rating to a “neutral” rating and increased their price objective for the company from $27.00 to $29.00 in a research note on Friday, September 9th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $29.50.
Shares of HomeStreet (NASDAQ:HMST) opened at 26.90 on Monday. HomeStreet has a 12 month low of $18.58 and a 12 month high of $28.60. The firm’s 50 day moving average is $25.94 and its 200-day moving average is $23.19. The firm has a market capitalization of $668.09 million, a PE ratio of 10.02 and a beta of 0.05.
HomeStreet (NASDAQ:HMST) last posted its quarterly earnings results on Monday, October 24th. The company reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.38. HomeStreet had a net margin of 11.77% and a return on equity of 12.89%. During the same quarter in the previous year, the firm posted $0.42 EPS. On average, analysts expect that HomeStreet will post $2.74 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Salzhauer Michael purchased a new position in HomeStreet during the second quarter worth about $277,000. Royce & Associates LP raised its position in HomeStreet by 61.8% in the second quarter. Royce & Associates LP now owns 151,900 shares of the company’s stock worth $3,026,000 after buying an additional 58,000 shares during the period. First Trust Advisors LP raised its position in HomeStreet by 8.5% in the second quarter. First Trust Advisors LP now owns 35,368 shares of the company’s stock worth $705,000 after buying an additional 2,762 shares during the period. State Board of Administration of Florida Retirement System raised its position in HomeStreet by 141.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 26,046 shares of the company’s stock worth $519,000 after buying an additional 15,264 shares during the period. Finally, Mendon Capital Advisors Corp purchased a new position in HomeStreet during the second quarter worth about $447,000. Institutional investors own 76.29% of the company’s stock.
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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