DA Davidson Lowers HomeStreet (NASDAQ:HMST) to Underperform

DA Davidson cut shares of HomeStreet (NASDAQ:HMST) from a neutral rating to an underperform rating in a research report report published on Wednesday, Benzinga reports. DA Davidson currently has $29.39 price objective on the financial services provider’s stock.

Several other research analysts also recently commented on the stock. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, June 26th. FIG Partners reissued a market-perform rating on shares of Berkshire Hills Bancorp in a research note on Wednesday, May 1st. TheStreet downgraded shares of UDR from a b rating to a c rating in a research note on Tuesday, April 30th. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research raised shares of HENKEL AG & CO/S from a sell rating to a hold rating in a research note on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $31.88.

Shares of HMST opened at $29.30 on Wednesday. The company has a 50 day moving average of $29.70. The stock has a market capitalization of $790.16 million, a P/E ratio of 18.66, a P/E/G ratio of 2.42 and a beta of 0.67. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.03 and a quick ratio of 1.02. HomeStreet has a 1-year low of $20.50 and a 1-year high of $31.96.

HomeStreet (NASDAQ:HMST) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.05). The company had revenue of $55.65 million during the quarter, compared to analysts’ expectations of $102.33 million. HomeStreet had a net margin of 7.02% and a return on equity of 5.87%. During the same period in the prior year, the business earned $0.21 earnings per share. As a group, research analysts anticipate that HomeStreet will post 1.73 EPS for the current year.

In other news, EVP Amen Darrell Van bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average cost of $30.75 per share, with a total value of $61,500.00. Following the completion of the purchase, the executive vice president now directly owns 38,858 shares in the company, valued at $1,194,883.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sandra A. Cavanaugh bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was purchased at an average cost of $28.67 per share, for a total transaction of $143,350.00. Following the completion of the purchase, the director now owns 6,107 shares of the company’s stock, valued at $175,087.69. The disclosure for this purchase can be found here. Insiders have acquired 9,000 shares of company stock worth $261,590 over the last three months. Insiders own 1.64% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of HMST. Boston Partners increased its stake in shares of HomeStreet by 27.5% in the first quarter. Boston Partners now owns 1,013,316 shares of the financial services provider’s stock worth $26,701,000 after buying an additional 218,387 shares during the period. BlackRock Inc. boosted its holdings in HomeStreet by 2.4% in the fourth quarter. BlackRock Inc. now owns 3,968,609 shares of the financial services provider’s stock valued at $84,253,000 after acquiring an additional 91,856 shares in the last quarter. Marshall Wace LLP boosted its holdings in HomeStreet by 2,910.8% in the first quarter. Marshall Wace LLP now owns 91,499 shares of the financial services provider’s stock valued at $2,411,000 after acquiring an additional 88,460 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in HomeStreet by 167.6% in the first quarter. Acadian Asset Management LLC now owns 110,861 shares of the financial services provider’s stock valued at $2,922,000 after acquiring an additional 69,426 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its holdings in HomeStreet by 18.0% in the first quarter. Kennedy Capital Management Inc. now owns 374,816 shares of the financial services provider’s stock valued at $9,876,000 after acquiring an additional 57,117 shares in the last quarter. 81.63% of the stock is currently owned by institutional investors.

HomeStreet Company Profile

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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