HomeStreet (NASDAQ: HMST) Downgraded by Zacks Investment Research


Zacks Investment Research lowered shares of HomeStreet (NASDAQ: HMSTGet Rating) from a buy rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

According to Zacks, “HomeStreet, Inc. is a diversified financial services company. The Company is engaged in real estate lending, including mortgage banking activities and retail and business banking operations and serves consumers and businesses in the Pacific Northwest and Hawaii. It offers deposit and investment products and cash management services and single family loans and commercial loans. HomeStreet’s primary subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. It operates in Washington, Oregon, Idaho and Hawaii. HomeStreet, Inc. is headquartered in Seattle, Washington. “

Several other equities research analysts also recently commented on HMST. B. Riley decreased their price objective on HomeStreet from $ 60.00 to $ 55.00 in a report on Tuesday, April 12th. StockNews.com began coverage on HomeStreet in a report on Thursday, March 31st. They set a hold rating for the company.

Shares of HMST stock opened at $ 40.59 on Friday. The company has a market cap of $ 759.03 million, a P / E ratio of 7.93 and a beta of 0.98. The stock has a 50 day simple moving average of $ 47.65 and a two-hundred day simple moving average of $ 49.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 0.93. HomeStreet has a fifty-two week low of $ 36.20 and a fifty-two week high of $ 57.40.

HomeStreet (NASDAQ: HMSTGet Rating) last issued its earnings results on Monday, April 25th. The financial services provider reported $ 1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $ 0.95 by $ 0.06. HomeStreet had a return on equity of 15.46% and a net margin of 31.04%. During the same period in the prior year, the company earned $ 1.35 earnings per share. On average, research analysts predict that HomeStreet will post 4.31 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 24th. Shareholders of record on Tuesday, May 10th will be given a $ 0.35 dividend. The ex-dividend date of this dividend is Monday, May 9th. This represents a $ 1.40 annualized dividend and a yield of 3.45%. HomeStreet’s dividend payout ratio is currently 27.34%.

In other HomeStreet news, EVP Jay C. Iseman sold 2,904 shares of the business’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $ 51.54, for a total value of $ 149,672.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.80% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its position in shares of HomeStreet by 86.9% during the 2nd quarter. Royal Bank of Canada now owns 1,424 shares of the financial services provider’s stock valued at $ 58,000 after buying an additional 662 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in HomeStreet by 164.2% during the 4th quarter. Zurcher Cantonalbank Zurich Cantonalbank now owns 3,007 shares of the financial services provider’s stock worth $ 156,000 after purchasing an additional 1,869 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in HomeStreet during the 4th quarter worth about $ 210,000. Cambria Investment Management LP purchased a new stake in HomeStreet during the 4th quarter worth about $ 213,000. Finally, ProShare Advisors LLC purchased a new stake in HomeStreet during the 4th quarter worth about $ 259,000. 83.47% of the stock is currently owned by hedge funds and other institutional investors.

HomeStreet Company Profile (Get Rating)

HomeStreet, Inc. operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer / retail banking services primarily in the Western United States. The company offers personal and business checking, savings accounts, interest-bearing negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; credit cards; insurance; and treasury management products and services.

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