FIG Partners Analysts Give HomeStreet (HMST) a $30.00 Price Target
HomeStreet (NASDAQ:HMST) has been given a $30.00 target price by equities researchers at FIG Partners in a research note issued on Wednesday. The brokerage presently has a “hold” rating on the financial services provider’s stock. FIG Partners’ price target suggests a potential upside of 5.45% from the company’s previous close. FIG Partners also issued estimates for HomeStreet’s Q4 2018 earnings at $0.40 EPS, Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.68 EPS, Q3 2019 earnings at $0.68 EPS, Q4 2019 earnings at $0.46 EPS and FY2019 earnings at $2.15 EPS.
HMST has been the topic of several other research reports. B. Riley raised shares of HomeStreet from a “neutral” rating to a “buy” rating and raised their price target for the stock from $30.00 to $35.00 in a research note on Monday, June 11th. ValuEngine downgraded shares of HomeStreet from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research raised shares of HomeStreet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, BidaskClub downgraded shares of HomeStreet from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. HomeStreet presently has a consensus rating of “Hold” and a consensus price target of $31.14.
HMST stock opened at $28.45 on Wednesday. The stock has a market capitalization of $751.30 million, a P/E ratio of 16.93, a P/E/G ratio of 1.81 and a beta of 0.30. HomeStreet has a 12 month low of $24.50 and a 12 month high of $32.60. The company has a current ratio of 1.06, a quick ratio of 0.96 and a debt-to-equity ratio of 1.65.
In other HomeStreet news, EVP Edward Schultz sold 11,644 shares of the firm’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $29.48, for a total transaction of $343,265.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mary L. Vincent sold 8,459 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $29.57, for a total transaction of $250,132.63. Following the transaction, the executive vice president now directly owns 14,123 shares in the company, valued at approximately $417,617.11. The disclosure for this sale can be found here. Company insiders own 1.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its position in HomeStreet by 5.8% during the 2nd quarter. BlackRock Inc. now owns 3,762,544 shares of the financial services provider’s stock valued at $101,399,000 after purchasing an additional 205,418 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of HomeStreet by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,280,873 shares of the financial services provider’s stock valued at $65,347,000 after buying an additional 15,600 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of HomeStreet by 47.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,018,955 shares of the financial services provider’s stock valued at $27,461,000 after buying an additional 330,003 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of HomeStreet by 1.7% in the 1st quarter. Millennium Management LLC now owns 924,934 shares of the financial services provider’s stock valued at $26,499,000 after buying an additional 15,825 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in HomeStreet by 11.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 902,913 shares of the financial services provider’s stock worth $24,339,000 after purchasing an additional 94,921 shares in the last quarter. 81.27% of the stock is currently owned by institutional investors and hedge funds.
HomeStreet Company Profile
HomeStreet, Inc, together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking. The Commercial and Consumer Banking segment offers deposit products; non-deposit investment products; and insurance products and cash management services.
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