Janney Montgomery Scott Downgrades HomeStreet (NASDAQ:HMST) to Hold

HomeStreet (NASDAQ:HMST) was downgraded by Janney Montgomery Scott from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

Several other equities research analysts also recently issued reports on HMST. Keefe, Bruyette & Woods increased their price target on HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. StockNews.com assumed coverage on shares of HomeStreet in a report on Sunday, September 22nd. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, HomeStreet has a consensus rating of “Hold” and a consensus price target of $12.25.

HomeStreet Stock Down 0.1 %

NASDAQ HMST opened at $9.06 on Wednesday. The stock has a fifty day moving average of $14.97 and a 200-day moving average of $12.83. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $170.78 million, a P/E ratio of -6.97 and a beta of 1.37. HomeStreet has a 52 week low of $4.38 and a 52 week high of $16.10.

HomeStreet (NASDAQ:HMST) last issued its earnings results on Tuesday, October 29th. The financial services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.12). The business had revenue of $39.68 million for the quarter, compared to the consensus estimate of $42.93 million. HomeStreet had a negative net margin of 5.44% and a negative return on equity of 3.42%. On average, equities research analysts forecast that HomeStreet will post -0.87 EPS for the current year.

Insider Transactions at HomeStreet

In other HomeStreet news, Director Paulette Lemon sold 2,401 shares of HomeStreet stock in a transaction on Friday, August 30th. The shares were sold at an average price of $15.59, for a total value of $37,431.59. Following the sale, the director now directly owns 16,923 shares in the company, valued at approximately $263,829.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HMST. Endeavour Capital Advisors Inc. grew its stake in shares of HomeStreet by 113.6% in the second quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock valued at $8,051,000 after buying an additional 375,581 shares in the last quarter. Kennedy Capital Management LLC bought a new position in shares of HomeStreet in the 1st quarter valued at about $3,720,000. Mendon Capital Advisors Corp increased its stake in shares of HomeStreet by 21.0% during the 2nd quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock worth $4,138,000 after purchasing an additional 63,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of HomeStreet in the 2nd quarter valued at about $410,000. Finally, Dimensional Fund Advisors LP lifted its stake in HomeStreet by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock valued at $7,299,000 after purchasing an additional 28,874 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.