Morgan Stanley Smith Barney LLC recently announced the acquisition of new stake in HomeStreet Inc. (NASDAQ:HMST). The institutional investor has increased its shareholding in the Financial company by 1.95% to 0.35 million shares with purchase of 6646.0 shares. This fresh investment now brings its stake to 1.86% valued currently at $9.59 million. In addition, Millennium Management LLC raised its holdings by 0.11 million to 0.3 million shares.
With over 99118.0 HomeStreet Inc. (HMST) shares trading Tuesday and a closing price of $29.39 on the day, the dollar volume was approximately $2.91 million. The shares have shown a negative half year performance of -22.41% and its price on 01/24/23 gained nearly 0.24%. Currently, there are 18.72M common shares owned by the public and among those 18.00M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for HMST have a consensus price objective of $31.00. The analysts have set the share’s price value over the next 12 months at a high of $38.00 and a low of $24.00. The average price target is 5.19% above its recent price level and a downside to the estimated low will see the stock lose -22.46% over that period. But an upside of 22.66% will see the stock hit the forecast high price target while median target price for the stock is $31.00.
Insiders at the company have transacted a total of 146 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 109 of these insider trades were purchases, accounting for 189,399 shares. Insider sales of the common stock occurred on 37 occasions, with total insider shares sold totaling 22,420 shares.
The top 3 mutual fund holders in HomeStreet Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and DFA US Small Cap Value Portfolio. iShares Core S&P Small Cap ETF owns 1.31 million shares of the company’s stock, all valued at over $36.19 million. DFA US Small Cap Value Portfolio now owns shares totaling to 2.67% of the shares outstanding.
However, the script later moved the day high at 29.49, up 0.24%. The company’s stock has a 5-day price change of 4.52% and 1.70% over the past three months. HMST shares are trading 6.56% year to date (YTD), with the 12-month market performance down to -43.30% lower. It has a 12-month low price of $22.44 and touched a high of $52.95 over the same period. HMST has an average intraday trading volume of 154.97K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.31%, 7.96%, and -12.64% respectively.
Institutional ownership of HomeStreet Inc. (NASDAQ: HMST) shares accounts for 90.60% of the company’s 18.72M shares outstanding. Mutual fund holders own 35.50%, while other institutional holders and individual stakeholders account for 50.68% and 20.82% respectively.
It has a market capitalization of $530.20M and a beta (3y monthly) value of 0.99. The stock’s trailing 12-month PE ratio is 6.58, while the earnings-per-share (ttm) stands at $4.47. The company has a PEG of 0.94 and the debt-to-equity ratio at 0.41. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.00% over the week and 2.80% over the month.
Analysts forecast that HomeStreet Inc. (HMST) will achieve an EPS of $0.81 for the current quarter, $0.76 for the next quarter and $3.87 for 2023. The lowest estimate earnings-per-share for the quarter is $0.68 while analysts give the company a high EPS estimate of $1.08. Comparatively, EPS for the current quarter was $1.43 a year ago. Earnings per share for the fiscal year are expected to increase by 57.50%, and -2.67% over the next financial year. EPS should shrink at an annualized rate of 7.00% over the next five years, compared to 18.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate HomeStreet Inc. (HMST) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the HMST, a number of firms have released research notes about the stock. B. Riley Securities stated their Neutral rating for the stock in a research note on June 14, 2022, with the firm’s price target at $55-$43. Piper Sandler coverage for the HomeStreet Inc. (HMST) stock in a research note released on May 05, 2022 offered a Underweight rating with a price target of $40. Wedbush was of a view on November 10, 2021 that the stock is Outperform, while DA Davidson gave the stock Neutral rating on March 08, 2021, issuing a price target of $43- $49. B. Riley Securities on their part issued Buy rating on October 28, 2020.