BidaskClub Lowers HomeStreet, Inc. (NASDAQ:HMST) to Sell

HomeStreet, Inc. (NASDAQ:HMST) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, July 24th.

Several other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of HomeStreet from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. FIG Partners downgraded shares of HomeStreet from an “outperform” rating to a “market perform” rating in a report on Friday, April 28th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $31.00 price target on shares of HomeStreet in a report on Friday, June 2nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $29.45.

Shares of HomeStreet (HMST) opened at 24.90 on Monday. The company has a market cap of $669.41 million, a price-to-earnings ratio of 12.94 and a beta of 0.05. The company’s 50-day moving average is $26.94 and its 200-day moving average is $26.97. HomeStreet has a 12-month low of $22.85 and a 12-month high of $33.70.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings results on Monday, July 24th. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.18. HomeStreet had a net margin of 8.89% and a return on equity of 8.10%. The firm had revenue of $127.88 million for the quarter, compared to analysts’ expectations of $143.41 million. During the same period in the prior year, the firm earned $0.90 EPS. Equities research analysts predict that HomeStreet will post $1.56 earnings per share for the current year.

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In other news, EVP William Endresen sold 1,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $27.38, for a total value of $27,380.00. Following the transaction, the executive vice president now owns 1,170 shares of the company’s stock, valued at $32,034.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.59% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. First Interstate Bank increased its position in HomeStreet by 80.4% in the first quarter. First Interstate Bank now owns 3,915 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,745 shares during the period. SG Americas Securities LLC bought a new position in HomeStreet during the second quarter valued at approximately $117,000. State of Alaska Department of Revenue increased its position in HomeStreet by 90.7% in the second quarter. State of Alaska Department of Revenue now owns 5,321 shares of the financial services provider’s stock valued at $147,000 after buying an additional 2,531 shares during the period. Mason Street Advisors LLC increased its position in HomeStreet by 15.5% in the first quarter. Mason Street Advisors LLC now owns 5,891 shares of the financial services provider’s stock valued at $165,000 after buying an additional 789 shares during the period. Finally, Airain ltd bought a new position in HomeStreet during the first quarter valued at approximately $211,000. 82.90% of the stock is currently owned by hedge funds and other institutional investors.

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. The Company’s operating segments include Commercial and Consumer Banking, and Mortgage Banking.

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