HomeStreet, Inc. (HMST) Given Hold Rating at FBR & Co
HomeStreet, Inc. (NASDAQ:HMST)‘s stock had its “hold” rating reissued by equities researchers at FBR & Co in a research note issued to investors on Tuesday.
A number of other brokerages have also issued reports on HMST. ValuEngine lowered HomeStreet from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub downgraded HomeStreet from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Keefe, Bruyette & Woods restated a “buy” rating and set a $31.00 price objective on shares of HomeStreet in a report on Friday, July 14th. Zacks Investment Research raised HomeStreet from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, FIG Partners reaffirmed a “market perform” rating and set a $26.25 target price (down from $29.25) on shares of HomeStreet in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $29.56.
Shares of HomeStreet (NASDAQ HMST) traded up 2.256% during midday trading on Tuesday, reaching $28.325. 261,753 shares of the company were exchanged. The stock has a market capitalization of $761.49 million, a P/E ratio of 14.722 and a beta of 0.06. HomeStreet has a 12-month low of $24.00 and a 12-month high of $33.70. The company has a 50 day moving average price of $25.36 and a 200-day moving average price of $26.64.
HomeStreet (NASDAQ:HMST) last issued its earnings results on Monday, July 24th. The financial services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.18). HomeStreet had a return on equity of 8.10% and a net margin of 8.89%. The company had revenue of $127.88 million for the quarter, compared to analysts’ expectations of $143.41 million. During the same period last year, the business posted $0.90 earnings per share. On average, analysts forecast that HomeStreet will post $1.57 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of HomeStreet by 6.8% in the 2nd quarter. BlackRock Inc. now owns 3,397,800 shares of the financial services provider’s stock worth $94,035,000 after purchasing an additional 215,443 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of HomeStreet by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,214,492 shares of the financial services provider’s stock valued at $61,286,000 after purchasing an additional 240,299 shares in the last quarter. Vanguard Group Inc. increased its holdings in HomeStreet by 8.9% during the second quarter. Vanguard Group Inc. now owns 1,407,312 shares of the financial services provider’s stock valued at $38,947,000 after buying an additional 115,204 shares during the period. Alliancebernstein L.P. increased its holdings in HomeStreet by 13.1% during the second quarter. Alliancebernstein L.P. now owns 824,562 shares of the financial services provider’s stock valued at $22,820,000 after buying an additional 95,620 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in HomeStreet by 120.1% during the second quarter. Victory Capital Management Inc. now owns 812,090 shares of the financial services provider’s stock valued at $22,475,000 after buying an additional 443,105 shares during the period. 83.89% 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. The Company’s operating segments include Commercial and Consumer Banking, and Mortgage Banking.
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