Brokerages Set HomeStreet Inc (NASDAQ:HMST) Target Price at $33.00

HomeStreet Inc (NASDAQ:HMST) has earned a consensus rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $33.00.

Several brokerages recently issued reports on HMST. BidaskClub cut shares of HomeStreet from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of HomeStreet from a “hold” rating to a “strong-buy” rating and set a $34.00 target price for the company in a report on Thursday, June 6th. TheStreet cut shares of HomeStreet from a “b” rating to a “c+” rating in a report on Tuesday, April 30th. ValuEngine raised shares of HomeStreet from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, FIG Partners cut shares of HomeStreet from an “outperform” rating to a “market-perform” rating in a report on Wednesday, May 1st.

NASDAQ HMST opened at $29.08 on Tuesday. The business has a fifty day moving average of $29.29. The stock has a market capitalization of $771.29 million, a PE ratio of 19.65, a P/E/G ratio of 2.36 and a beta of 0.68. HomeStreet has a 12-month low of $20.50 and a 12-month high of $31.96. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.97.

HomeStreet (NASDAQ:HMST) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.05). HomeStreet had a return on equity of 5.87% and a net margin of 7.02%. The business had revenue of $55.65 million for the quarter, compared to analysts’ expectations of $102.33 million. During the same period last year, the business earned $0.21 EPS. On average, sell-side analysts forecast that HomeStreet will post 1.73 earnings per share for the current year.

In other HomeStreet news, CFO Mark R. Ruh bought 2,000 shares of HomeStreet stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of $28.37 per share, with a total value of $56,740.00. Following the completion of the acquisition, the chief financial officer now directly owns 6,617 shares in the company, valued at approximately $187,724.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sandra A. Cavanaugh bought 5,000 shares of HomeStreet stock in a transaction that occurred on Wednesday, May 8th. The shares were acquired at an average cost of $28.67 per share, with a total value of $143,350.00. Following the acquisition, 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. In the last three months, insiders have purchased 9,000 shares of company stock valued at $261,590. 1.64% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in HMST. Cutler Group LP acquired a new stake in HomeStreet during the first quarter valued at $26,000. Bank of Montreal Can grew its position in shares of HomeStreet by 110.5% in the fourth quarter. Bank of Montreal Can now owns 2,261 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,187 shares during the period. 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 acquiring an additional 1,437 shares during the last quarter. 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 acquiring an additional 3,564 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new position in HomeStreet during the fourth quarter worth about $166,000. Institutional investors 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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