FIG Partners Reiterates “$30.00” Price Target for HomeStreet (HMST)

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FIG Partners set a $30.00 price objective on HomeStreet (NASDAQ:HMST) in a report issued on Wednesday morning. The firm currently has a hold rating on the financial services provider’s stock. 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.

A number of other research firms have also weighed in on HMST. BidaskClub lowered HomeStreet from a hold rating to a sell rating in a report on Friday, September 7th. ValuEngine lowered HomeStreet from a buy rating to a hold rating in a report on Saturday, June 2nd. Zacks Investment Research upgraded HomeStreet from a sell rating to a hold rating in a report on Wednesday, July 4th. Finally, B. Riley raised their target price on HomeStreet from $35.00 to $36.00 and gave the company a buy rating in a report on Wednesday, July 25th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $31.14.

Shares of NASDAQ:HMST opened at $28.85 on Wednesday. The company has a market capitalization of $759.40 million, a price-to-earnings ratio of 16.46, a PEG ratio of 1.83 and a beta of 0.30. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.96 and a current ratio of 1.06. HomeStreet has a 52-week low of $24.50 and a 52-week high of $32.60.

HomeStreet (NASDAQ:HMST) last announced its quarterly earnings results on Monday, July 23rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.11. The business had revenue of $120.39 million for the quarter, compared to analyst estimates of $119.61 million. HomeStreet had a return on equity of 6.66% and a net margin of 11.40%. During the same quarter in the prior year, the company earned $0.42 earnings per share. equities research analysts anticipate that HomeStreet will post 1.61 earnings per share for the current year.

In related news, EVP Edward Schultz sold 11,644 shares of HomeStreet stock in a transaction on Friday, July 27th. The stock was sold at an average price of $29.48, for a total transaction of $343,265.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mary L. Vincent sold 8,459 shares of HomeStreet stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $29.57, for a total value of $250,132.63. Following the sale, the executive vice president now owns 14,123 shares in the company, valued at $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 institutional investors have recently modified their holdings of HMST. Victory Capital Management Inc. lifted its holdings in HomeStreet by 47.9% during the second quarter. Victory Capital Management Inc. now owns 1,018,955 shares of the financial services provider’s stock worth $27,461,000 after acquiring an additional 330,003 shares during the period. Russell Investments Group Ltd. lifted its holdings in HomeStreet by 51.4% during the first quarter. Russell Investments Group Ltd. now owns 807,992 shares of the financial services provider’s stock worth $23,147,000 after acquiring an additional 274,277 shares during the period. Maltese Capital Management LLC lifted its holdings in HomeStreet by 193.1% during the second quarter. Maltese Capital Management LLC now owns 340,027 shares of the financial services provider’s stock worth $9,164,000 after acquiring an additional 224,027 shares during the period. BlackRock Inc. lifted its holdings in HomeStreet by 5.8% during the second quarter. BlackRock Inc. now owns 3,762,544 shares of the financial services provider’s stock worth $101,399,000 after acquiring an additional 205,418 shares during the period. Finally, Boston Partners lifted its holdings in HomeStreet by 20.4% during the second quarter. Boston Partners now owns 510,450 shares of the financial services provider’s stock worth $13,757,000 after acquiring an additional 86,500 shares during the period. Institutional investors and hedge funds own 81.27% of the company’s stock.

About HomeStreet

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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