HomeStreet (NASDAQ:HMST) Coverage Initiated at StockNews.com

Analysts at StockNews.com assumed coverage on shares of HomeStreet (NASDAQ:HMST) in a research note issued to investors on Monday. The brokerage set a “sell” rating on the financial services provider’s stock.

HMST has been the subject of a number of other reports. Wedbush raised their price target on HomeStreet from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods lifted their target price on HomeStreet from $11.00 to $15.50 and gave the stock a “market perform” rating in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, HomeStreet currently has a consensus rating of “Hold” and a consensus target price of $12.17.

HomeStreet Trading Down 1.4 %

NASDAQ HMST opened at $12.33 on Monday. The firm has a market cap of $232.54 million, a P/E 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 stock’s 50-day moving average is $14.11 and its 200-day moving average is $10.57. HomeStreet has a one year low of $4.20 and a one year high of $18.43.

HomeStreet (NASDAQ:HMST) last announced its earnings results on Monday, January 29th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). HomeStreet had a negative net margin of 6.23% and a positive return on equity of 1.55%. The firm had revenue of $45.95 million during the quarter, compared to analyst estimates of $49.73 million. Sell-side analysts anticipate that HomeStreet will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at HomeStreet

In other HomeStreet news, Director Joanne R. Harrell purchased 1,685 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $14.87 per share, with a total value of $25,055.95. Following the acquisition, the director now owns 14,907 shares of the company’s stock, valued at $221,667.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On HomeStreet

A number of institutional investors have recently modified their holdings of HMST. Advisor Group Holdings Inc. grew its position in HomeStreet by 10.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,390 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 309 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of HomeStreet by 57.7% in the 1st quarter. MetLife Investment Management LLC now owns 10,984 shares of the financial services provider’s stock valued at $520,000 after buying an additional 4,021 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of HomeStreet by 12.0% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,315 shares of the financial services provider’s stock valued at $820,000 after buying an additional 1,859 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of HomeStreet by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 21,415 shares of the financial services provider’s stock valued at $1,015,000 after buying an additional 270 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of HomeStreet by 19.4% in the 1st quarter. Federated Hermes Inc. now owns 298,771 shares of the financial services provider’s stock valued at $14,156,000 after buying an additional 48,460 shares during the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.

HomeStreet Company Profile

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.