HomeStreet (NASDAQ:HMST) Stock Rating Lowered by BidaskClub

HomeStreet (NASDAQ:HMST) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday, BidAskClub reports.

HMST has been the topic of a number of other reports. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. DA Davidson initiated coverage on shares of Business First Bancshares in a report on Wednesday, July 10th. They issued a “neutral” rating and a $28.00 price objective on the stock. TheStreet downgraded shares of UDR from a “b” rating to a “c” rating in a report on Tuesday, April 30th. Zacks Investment Research upgraded shares of HENKEL AG & CO/S from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Finally, FIG Partners restated a “market-perform” rating on shares of Berkshire Hills Bancorp in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $31.88.

NASDAQ HMST opened at $27.79 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.97. HomeStreet has a 12-month low of $20.50 and a 12-month high of $31.96. The firm has a market capitalization of $755.91 million, a P/E ratio of 18.78, a PEG ratio of 2.19 and a beta of 0.67. The firm has a 50 day simple moving average of $29.68.

HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.05). HomeStreet had a net margin of 7.02% and a return on equity of 5.87%. The business had revenue of $55.65 million during the quarter, compared to analyst estimates of $102.33 million. During the same quarter last year, the business earned $0.21 earnings per share. On average, sell-side analysts predict that HomeStreet will post 1.83 earnings per share for the current fiscal year.

In other news, Director Sandra A. Cavanaugh bought 5,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $28.67 per share, for a total transaction of $143,350.00. Following the completion of the acquisition, the director now owns 6,107 shares in the company, valued at $175,087.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark R. Ruh bought 2,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average price of $28.37 per share, for a total transaction of $56,740.00. Following the completion of the acquisition, the chief financial officer now owns 6,617 shares of the company’s stock, valued at approximately $187,724.29. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,000 shares of company stock worth $261,590. 1.64% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Cutler Group LP bought a new position in HomeStreet during the first quarter worth $26,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in HomeStreet by 126.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,569 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,437 shares during the period. BNP Paribas Arbitrage SA boosted its position in HomeStreet by 219.3% during the first quarter. BNP Paribas Arbitrage SA now owns 5,189 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 3,564 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in HomeStreet during the fourth quarter worth $166,000. Finally, State Board of Administration of Florida Retirement System bought a new position in HomeStreet during the first quarter worth $229,000. Institutional investors and hedge funds own 81.63% of the company’s stock.

About HomeStreet

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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