FIG Partners set a $30.00 price target on HomeStreet (NASDAQ:HMST) in a research report sent to investors on Wednesday, September 12th. The firm currently has a hold rating on the financial services provider’s stock. FIG Partners also issued estimates for HomeStreet’s Q4 2018 earnings at $0.40 EPS, Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.68 EPS, Q3 2019 earnings at $0.68 EPS, Q4 2019 earnings at $0.46 EPS and FY2019 earnings at $2.15 EPS.
Several other brokerages have also commented on HMST. BidaskClub upgraded HomeStreet from a sell rating to a hold rating in a report on Wednesday, July 25th. B. Riley increased their price objective on HomeStreet from $35.00 to $36.00 and gave the company a buy rating in a report on Wednesday, July 25th. Zacks Investment Research upgraded HomeStreet from a hold rating to a buy rating and set a $34.00 price objective for the company in a report on Tuesday, August 14th. Finally, ValuEngine upgraded HomeStreet from a hold rating to a buy rating in a report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $31.14.
HomeStreet stock traded down $0.30 during mid-day trading on Wednesday, reaching $26.49. 38,130 shares of the company were exchanged, compared to its average volume of 155,811. The company has a quick ratio of 0.96, a current ratio of 1.06 and a debt-to-equity ratio of 1.65. The firm has a market cap of $714.89 million, a P/E ratio of 15.77, a P/E/G ratio of 1.65 and a beta of 0.33. HomeStreet has a 12-month low of $24.50 and a 12-month high of $32.60.
HomeStreet (NASDAQ:HMST) last posted its earnings results on Monday, July 23rd. The financial services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. HomeStreet had a return on equity of 6.66% and a net margin of 11.40%. The company had revenue of $120.39 million during the quarter, compared to analyst estimates of $119.61 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. Equities analysts expect that HomeStreet will post 1.61 earnings per share for the current year.
In other HomeStreet news, EVP Mary L. Vincent sold 8,459 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $29.57, for a total transaction of $250,132.63. Following the sale, the executive vice president now directly owns 14,123 shares of the company’s stock, valued at approximately $417,617.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward Schultz sold 11,644 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $29.48, for a total value of $343,265.12. The disclosure for this sale can be found here. 1.64% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its position in HomeStreet by 5.8% during the 2nd quarter. BlackRock Inc. now owns 3,762,544 shares of the financial services provider’s stock worth $101,399,000 after purchasing an additional 205,418 shares during the period. Dimensional Fund Advisors LP grew its position in HomeStreet by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,280,873 shares of the financial services provider’s stock worth $65,347,000 after purchasing an additional 15,600 shares during the period. Victory Capital Management Inc. grew its position in HomeStreet by 47.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,018,955 shares of the financial services provider’s stock worth $27,461,000 after purchasing an additional 330,003 shares during the period. Millennium Management LLC grew its position in HomeStreet by 1.7% during the 1st quarter. Millennium Management LLC now owns 924,934 shares of the financial services provider’s stock worth $26,499,000 after purchasing an additional 15,825 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of HomeStreet by 11.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 902,913 shares of the financial services provider’s stock valued at $24,339,000 after acquiring an additional 94,921 shares during the period. 81.25% of the stock is currently owned by institutional investors.
HomeStreet Company Profile
HomeStreet, Inc, together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking. The Commercial and Consumer Banking segment offers deposit products; non-deposit investment products; and insurance products and cash management services.
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