HomeStreet (NASDAQ: HMST) downgraded by DA Davidson
HomeStreet (NASDAQ: HMST) was demoted by equity research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a report released on Monday, Fly reports.
A number of other analysts have also weighed on the company recently. B. Riley raised his price target on HomeStreet from $ 42.00 to $ 48.00 and gave the stock a “buy” rating in a research report on Wednesday, January 27. Zacks investment research upgraded HomeStreet from a “sell” rating to a “maintain” rating in a research note on Monday January 11th. Three equity research analysts rated the stock with a sustaining rating and two gave the company a buy rating. The stock currently has a consensus rating of “Hold” and an average target price of $ 35.40.
Actions of NASDAQ: HMST open for $ 46.24 on Mondays. HomeStreet has a low of $ 18.44 in 52 weeks and a high of $ 46.38 in 52 weeks. The stock has a market cap of $ 1.01 billion, a P / E ratio of 17.06 and a beta of 1.06. The company’s 50-day moving average is $ 39.99 and its 200-day moving average is $ 33.22. The company has a quick ratio of 0.87, a current ratio of 0.94, and a debt ratio of 0.92.
HomeStreet (NASDAQ: HMST) last announced its quarterly earnings data on Sunday, January 24. The financial services provider reported earnings per share (EPS) of $ 1.25 for the quarter, beating the consensus estimate of $ 1.07 by $ 0.18. The company posted revenue of $ 100.03 million for the quarter, compared to analysts’ expectations of $ 87.05 million. HomeStreet reported a return on equity of 10.39% and a net margin of 16.89%. On average, sell-side analysts predict HomeStreet will post an EPS of 3.46 for the current fiscal year.
In addition, EVP Godfrey B. Evans sold 14,000 shares of the company in a transaction that took place on Wednesday, February 3. The stock was sold for an average price of $ 38.34, for a total trade of $ 536,760.00. As a result of the transaction, the Executive Vice President now directly owns 95,006 shares of the company, valued at approximately $ 3,642,530.04. The sale was disclosed in a legal deposit with the SEC, available at the SEC website. In addition, director Jeffrey D. Green bought 1,000 shares of the stock in a trade dated Monday, December 14. The shares were purchased at an average price of $ 33.00 per share, for a total transaction of $ 33,000.00. Disclosure of this purchase can be found here. During the last quarter, insiders bought 3,031 shares of the company valued at $ 119,080 and sold 25,746 shares valued at $ 1,028,325. Insiders own 3.62% of the company’s shares.
Several institutional investors have recently changed their holdings in HMST. Nuveen Asset Management LLC increased its holdings of HomeStreet shares by 186.0% in the 4th quarter. Nuveen Asset Management LLC now owns 376,191 shares of the financial services provider’s stock valued at $ 12,697,000 after purchasing an additional 244,668 shares in the last quarter. Morgan Stanley raised its position in HomeStreet shares by 249.1% in the 3rd quarter. Morgan Stanley now owns 266,945 shares of the financial services provider valued at $ 6,876,000 after purchasing an additional 190,476 shares during the period. LAO LP purchased a new equity interest in HomeStreet during the third quarter valued at approximately $ 3,298,000. Federated Hermes Inc. increased its position in HomeStreet shares by 254.9% in the 4th quarter. Federated Hermes Inc. now owns 110,544 shares of the financial services provider valued at $ 3,731,000 after purchasing an additional 79,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in HomeStreet shares by 51.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 210,317 shares of the financial services provider valued at $ 5,418,000 after purchasing an additional 71,142 shares during the period. Institutional investors and hedge funds hold 83.68% of the company’s shares.
HomeStreet, Inc operates as a bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides banking services to businesses and consumers primarily in the western United States. The company offers deposit and insurance products, private banking and cash management services, and other banking services.
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