HomeStreet (HMST) Downgraded by Zacks Investment Research

HomeStreet (NASDAQ:HMST) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

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. “

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Other analysts have also recently issued research reports about the company. BidaskClub raised HomeStreet from a “hold” rating to a “buy” rating in a report on Wednesday, March 14th. Sandler O’Neill set a $31.00 price objective on HomeStreet and gave the stock a “hold” rating in a report on Thursday, March 29th. B. Riley reissued a “hold” rating and set a $30.00 price objective on shares of HomeStreet in a report on Wednesday, January 24th. Keefe, Bruyette & Woods cut HomeStreet from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 24th. Finally, DA Davidson increased their price objective on HomeStreet to $34.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. HomeStreet currently has an average rating of “Hold” and a consensus target price of $30.75.

Shares of NASDAQ HMST opened at $27.75 on Friday. HomeStreet has a one year low of $24.00 and a one year high of $32.60. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.93 and a current ratio of 1.05. The firm has a market cap of $778.14, a PE ratio of 16.52, a PEG ratio of 1.21 and a beta of 0.34.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings data on Monday, January 22nd. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). The company had revenue of $123.88 million for the quarter, compared to analysts’ expectations of $127.13 million. HomeStreet had a return on equity of 7.26% and a net margin of 12.54%. During the same period last year, the company posted $0.09 EPS. research analysts expect that HomeStreet will post 2.38 EPS for the current fiscal year.

In other HomeStreet news, EVP Godfrey B. Evans sold 965 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $29.66, for a total value of $28,621.90. Following the sale, the executive vice president now owns 23,783 shares of the company’s stock, valued at approximately $705,403.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark K. Mason sold 2,208 shares of the firm’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $28.52, for a total value of $62,972.16. Following the completion of the sale, the chief executive officer now directly owns 136,580 shares in the company, valued at approximately $3,895,261.60. The disclosure for this sale can be found here. Insiders have sold a total of 14,414 shares of company stock worth $426,792 in the last three months. 1.64% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of HomeStreet by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,258,773 shares of the financial services provider’s stock valued at $60,986,000 after acquiring an additional 44,281 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of HomeStreet by 11.1% in the 4th quarter. Baird Financial Group Inc. now owns 53,235 shares of the financial services provider’s stock valued at $1,541,000 after acquiring an additional 5,316 shares in the last quarter. Kennedy Capital Management Inc. raised its holdings in shares of HomeStreet by 13.0% in the 4th quarter. Kennedy Capital Management Inc. now owns 331,794 shares of the financial services provider’s stock valued at $9,605,000 after acquiring an additional 38,181 shares in the last quarter. OppenheimerFunds Inc. raised its holdings in shares of HomeStreet by 77.1% in the 4th quarter. OppenheimerFunds Inc. now owns 25,010 shares of the financial services provider’s stock valued at $724,000 after acquiring an additional 10,889 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of HomeStreet by 4.9% in the 4th quarter. BlackRock Inc. now owns 3,461,203 shares of the financial services provider’s stock valued at $100,202,000 after acquiring an additional 161,814 shares in the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.

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About HomeStreet

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.

Analyst Recommendations for HomeStreet (NASDAQ:HMST)

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