HomeStreet (NASDAQ:HMST) Given New $55.00 Price Target at B. Riley

HomeStreet (NASDAQ:HMSTGet Rating) had its price target lowered by B. Riley from $60.00 to $55.00 in a report published on Tuesday, The Fly reports.

HMST has been the topic of a number of other reports. StockNews.com assumed coverage on HomeStreet in a research note on Thursday, March 31st. They issued a hold rating on the stock. Zacks Investment Research raised HomeStreet from a hold rating to a buy rating and set a $52.00 price target on the stock in a research report on Tuesday, April 5th.

HMST stock opened at $45.36 on Tuesday. The company has a market capitalization of $927.61 million, a P/E ratio of 8.31 and a beta of 0.98. HomeStreet has a twelve month low of $36.20 and a twelve month high of $57.40. The business has a 50 day simple moving average of $49.41 and a 200-day simple moving average of $49.22. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

HomeStreet (NASDAQ:HMSTGet Rating) last released its earnings results on Monday, January 24th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.12. HomeStreet had a return on equity of 16.28% and a net margin of 31.69%. The company had revenue of $85.70 million during the quarter, compared to the consensus estimate of $86.26 million. During the same quarter last year, the company earned $1.47 earnings per share. Research analysts predict that HomeStreet will post 4.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 23rd. Stockholders of record on Wednesday, February 9th were issued a $0.35 dividend. This is a positive change from HomeStreet’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, February 8th. This represents a $1.40 annualized dividend and a dividend yield of 3.09%. HomeStreet’s dividend payout ratio is 25.64%.

In other 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 transaction of $149,672.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of HomeStreet by 18.4% in the 4th quarter. State Street Corp now owns 851,227 shares of the financial services provider’s stock worth $44,264,000 after acquiring an additional 132,270 shares during the period. Russell Investments Group Ltd. lifted its position in shares of HomeStreet by 0.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 792,659 shares of the financial services provider’s stock worth $32,616,000 after acquiring an additional 1,994 shares during the period. Nuveen Asset Management LLC lifted its position in shares of HomeStreet by 27.7% in the 4th quarter. Nuveen Asset Management LLC now owns 586,092 shares of the financial services provider’s stock worth $30,477,000 after acquiring an additional 127,077 shares during the period. Morgan Stanley raised its holdings in shares of HomeStreet by 8.5% in the 3rd quarter. Morgan Stanley now owns 474,952 shares of the financial services provider’s stock worth $19,543,000 after buying an additional 37,147 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of HomeStreet by 109.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 390,122 shares of the financial services provider’s stock worth $20,287,000 after buying an additional 204,160 shares in the last quarter. Institutional investors own 83.47% of the company’s stock.

About HomeStreet (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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