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

Equities research analysts at StockNews.com started coverage on shares of HomeStreet (NASDAQ:HMST) in a research report issued to clients and investors on Sunday. The brokerage set a “sell” rating on the financial services provider’s stock.

A number of other research firms 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 for the company in a report on Thursday, June 20th. Keefe, Bruyette & Woods raised their price target on shares of HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, HomeStreet presently has an average rating of “Hold” and an average target price of $12.25.

HomeStreet Price Performance

HomeStreet stock opened at $14.75 on Friday. HomeStreet has a 52 week low of $4.20 and a 52 week high of $16.10. The company’s 50 day moving average price is $14.68 and its two-hundred day moving average price is $12.79. The stock has a market cap of $278.16 million, a P/E ratio of -6.92 and a beta of 1.37. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 4.06.

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

Insiders Place Their Bets

In other HomeStreet news, Director Paulette Lemon sold 2,401 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $15.59, for a total transaction of $37,431.59. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On HomeStreet

A number of institutional investors and hedge funds have recently modified their holdings of HMST. Squarepoint Ops LLC bought a new stake in HomeStreet during the 2nd quarter worth approximately $122,000. EMC Capital Management grew its position in shares of HomeStreet by 16.2% during the 1st quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,201 shares in the last quarter. Quest Partners LLC bought a new position in shares of HomeStreet in the fourth quarter worth $151,000. Vanguard Personalized Indexing Management LLC raised its position in shares of HomeStreet by 23.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock worth $164,000 after buying an additional 2,703 shares in the last quarter. Finally, Neuberger Berman Group LLC bought a new stake in HomeStreet during the fourth quarter valued at $170,000. 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.