HomeStreet (NASDAQ:HMST) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of HomeStreet (NASDAQ:HMST) in a report published on Friday. The firm issued a sell rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on HMST. Janney Montgomery Scott upgraded shares of HomeStreet from a neutral rating to a buy rating and set a $13.50 price objective on the stock in a research note on Thursday, June 20th. Keefe, Bruyette & Woods increased their price target on shares of HomeStreet from $13.50 to $14.50 and gave the stock a market perform rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $12.25.

HomeStreet Price Performance

HMST opened at $14.64 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 4.06. The stock has a market cap of $276.11 million, a P/E ratio of -6.87 and a beta of 1.37. The company has a fifty day simple moving average of $14.03 and a 200 day simple moving average of $12.72. HomeStreet has a 12 month low of $4.20 and a 12 month high of $16.10.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.01. HomeStreet had a negative net margin of 3.30% and a negative return on equity of 1.87%. The firm had revenue of $114.35 million for the quarter, compared to analysts’ expectations of $43.33 million. On average, research analysts expect that HomeStreet will post -0.87 EPS for the current year.

Insider Buying and Selling at HomeStreet

In other HomeStreet news, Director Paulette Lemon sold 2,401 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $15.59, for a total value of $37,431.59. Following the completion of the transaction, the director now owns 16,923 shares of the company’s stock, valued at approximately $263,829.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On HomeStreet

A number of institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in HomeStreet by 2,222.2% during 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 period. Russell Investments Group Ltd. boosted its holdings in HomeStreet by 2.4% in the fourth quarter. Russell Investments Group Ltd. now owns 34,288 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 810 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in HomeStreet by 27.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 586,929 shares of the financial services provider’s stock valued at $6,045,000 after purchasing an additional 127,969 shares during the period. BNP Paribas Financial Markets raised its holdings in HomeStreet by 33.1% during the 4th quarter. BNP Paribas Financial Markets now owns 53,585 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 13,314 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in shares of HomeStreet by 70.8% in the 4th quarter. Trexquant Investment LP now owns 167,420 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 69,384 shares during the period. 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.