StockNews.com Begins Coverage on HomeStreet (NASDAQ:HMST)

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

A number of other research analysts also recently weighed in on HMST. Keefe, Bruyette & Woods upped their target price on HomeStreet from $11.00 to $15.50 and gave the stock a market perform rating in a report on Wednesday, January 17th. Wedbush upped their price target on HomeStreet from $15.00 to $16.00 and gave the stock a neutral rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $12.17.

HomeStreet Stock Performance

Shares of NASDAQ:HMST opened at $12.05 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 3.66. The company has a 50-day moving average price of $14.04 and a 200-day moving average price of $10.78. The company has a market cap of $227.26 million, a price-to-earnings ratio of -8.25 and a beta of 1.32. HomeStreet has a 12 month low of $4.20 and a 12 month high of $15.82.

HomeStreet (NASDAQ:HMST) last posted its earnings results 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). HomeStreet had a positive return on equity of 1.55% and a negative net margin of 6.23%. The company had revenue of $45.95 million during the quarter, compared to analysts’ expectations of $49.73 million. As a group, equities analysts anticipate that HomeStreet will post 0.19 EPS for the current year.

Insider Transactions at HomeStreet

In related news, Director Joanne R. Harrell acquired 1,685 shares of HomeStreet stock in a transaction that occurred on 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 transaction, the director now directly owns 14,907 shares in the company, valued at $221,667.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On HomeStreet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of 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 worth $26,000 after purchasing an additional 2,055 shares during the last quarter. CWM LLC raised its position in HomeStreet by 2,222.2% in the 4th quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock worth $37,000 after buying an additional 3,400 shares during the last quarter. AJOVista LLC purchased a new position in HomeStreet in the 4th quarter worth about $38,000. Tower Research Capital LLC TRC lifted its stake in HomeStreet by 132.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 2,503 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of HomeStreet during the 3rd quarter valued at about $71,000. 74.71% of the stock is owned by 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.