HomeStreet Inc (NASDAQ:HMST) has been given an average rating of “Buy” by the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $31.50.
HMST has been the topic of several research reports. DA Davidson upgraded HomeStreet from an “underperform” rating to a “neutral” rating and set a $27.00 target price on the stock in a research report on Friday. TheStreet cut HomeStreet from a “b” rating to a “c+” rating in a research note on Monday, August 12th. Zacks Investment Research raised HomeStreet from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research note on Friday, July 26th. ValuEngine raised HomeStreet from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Finally, BidaskClub cut HomeStreet from a “hold” rating to a “sell” rating in a research note on Saturday.
HMST stock traded down $0.23 during mid-day trading on Wednesday, reaching $25.89. 188,177 shares of the company’s stock were exchanged, compared to its average volume of 167,139. The company has a market cap of $616.03 million, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 2.98 and a beta of 0.65. The stock’s 50 day moving average is $28.45 and its 200 day moving average is $28.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.94. HomeStreet has a 12-month low of $20.50 and a 12-month high of $31.96.
In related news, EVP Godfrey B. Evans bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average cost of $28.48 per share, for a total transaction of $28,480.00. Following the completion of the acquisition, the executive vice president now owns 46,432 shares in the company, valued at approximately $1,322,383.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amen Darrell Van bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average price of $30.75 per share, with a total value of $61,500.00. Following the completion of the acquisition, the executive vice president now owns 38,858 shares of the company’s stock, valued at approximately $1,194,883.50. The disclosure for this purchase can be found here. Insiders own 1.64% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in HomeStreet by 14.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,197,765 shares of the financial services provider’s stock worth $65,132,000 after purchasing an additional 270,958 shares during the period. Boston Partners lifted its stake in shares of HomeStreet by 27.5% during the 1st quarter. Boston Partners now owns 1,013,316 shares of the financial services provider’s stock worth $26,701,000 after purchasing an additional 218,387 shares during the period. Renaissance Technologies LLC increased its holdings in shares of HomeStreet by 143.0% during the 2nd quarter. Renaissance Technologies LLC now owns 252,500 shares of the financial services provider’s stock worth $7,484,000 after buying an additional 148,600 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of HomeStreet during the 2nd quarter worth $4,310,000. Finally, Wells Fargo & Company MN increased its holdings in shares of HomeStreet by 71.4% during the 2nd quarter. Wells Fargo & Company MN now owns 316,659 shares of the financial services provider’s stock worth $9,385,000 after buying an additional 131,866 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.
HomeStreet, Inc operates as the bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides commercial and consumer banking services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.
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