HomeStreet Inc. (NASDAQ:HMST) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.
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. “
Several other equities analysts have also recently commented on the stock. DA Davidson cut shares of HomeStreet from a “buy” rating to a “neutral” rating and upped their target price for the company from $27.00 to $29.00 in a research note on Friday, September 9th. FBR & Co reiterated a “buy” rating and set a $29.00 target price on shares of HomeStreet in a research note on Wednesday, July 27th.
HomeStreet (NASDAQ:HMST) opened at 24.85 on Wednesday. The firm has a market capitalization of $616.93 million, a price-to-earnings ratio of 12.41 and a beta of 0.09. HomeStreet has a 1-year low of $18.58 and a 1-year high of $27.21. The firm’s 50-day moving average is $25.09 and its 200-day moving average is $22.00.
HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, July 25th. The company reported $0.90 EPS for the quarter, beating the Thomson Reuters’ 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 previous year, the company posted $0.65 earnings per share. On average, equities analysts anticipate that HomeStreet will post $2.27 EPS for the current year.
Several institutional investors have recently made changes to their positions in HMST. Foundry Partners LLC boosted its position in shares of 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 in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in HomeStreet by 3.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,041 shares of the company’s stock valued at $334,000 after buying an additional 562 shares during the last quarter. American International Group Inc. raised its stake in HomeStreet by 5.3% in the second quarter. American International Group Inc. now owns 13,606 shares of the company’s stock valued at $271,000 after buying an additional 687 shares during the last quarter. Nationwide Fund Advisors raised its stake in HomeStreet by 0.5% in the second quarter. Nationwide Fund Advisors now owns 159,125 shares of the company’s stock valued at $3,170,000 after buying an additional 743 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake 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 valued at $1,986,000 after buying an additional 1,317 shares during the last quarter. Institutional investors own 72.75% of the company’s stock.
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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