HomeStreet (NASDAQ:HMST) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of HomeStreet (NASDAQ:HMST) in a report released on Monday morning. The brokerage issued a sell rating on the financial services provider’s stock.

Several other research firms also recently commented on HMST. Keefe, Bruyette & Woods boosted their price target on shares of HomeStreet from $11.00 to $15.50 and gave the stock a market perform rating in a research note on Wednesday, January 17th. Wedbush lifted their target price on HomeStreet from $15.00 to $16.00 and gave the company a neutral rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, HomeStreet presently has an average rating of Hold and an average price target of $12.17.

HomeStreet Stock Performance

Shares of HomeStreet stock opened at $12.33 on Monday. The stock has a market capitalization of $232.54 million, a price-to-earnings ratio of -8.45 and a beta of 1.32. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.11 and a quick ratio of 1.10. The business has a 50-day moving average of $14.10 and a 200 day moving average of $10.59. HomeStreet has a 12 month low of $4.20 and a 12 month high of $18.43.

HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Monday, January 29th. The financial services provider reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.15). The business had revenue of $45.95 million during the quarter, compared to analysts’ expectations of $49.73 million. HomeStreet had a negative net margin of 6.23% and a positive return on equity of 1.55%. As a group, sell-side analysts forecast that HomeStreet will post 0.19 earnings per share for the current year.

Insider Buying and Selling at HomeStreet

In other HomeStreet news, Director Joanne R. Harrell purchased 1,685 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $14.87 per share, with a total value of $25,055.95. Following the acquisition, the director now directly owns 14,907 shares of the company’s stock, valued at $221,667.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its stake in HomeStreet by 167.2% in the third quarter. PNC Financial Services Group Inc. now owns 3,284 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 2,055 shares in the last quarter. CWM LLC boosted its position in shares of HomeStreet by 2,222.2% in the 4th quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 3,400 shares during the period. AJOVista LLC purchased a new position in HomeStreet during the 4th quarter worth approximately $38,000. Point72 Hong Kong Ltd acquired a new position in HomeStreet during the second quarter worth approximately $40,000. Finally, Tower Research Capital LLC TRC lifted its stake in HomeStreet by 132.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock valued at $45,000 after buying an additional 2,503 shares during the last quarter. 74.71% of the stock is owned by hedge funds and other institutional investors.

About HomeStreet

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services in the Western United States. The company offers personal and business checking, savings, interest-bearing negotiable order of withdrawal, and money market accounts, as well as certificates of deposit; credit cards; insurance; and treasury management services.