HomeStreet (NASDAQ:HMST) Given New $14.00 Price Target at Piper Sandler

HomeStreet (NASDAQ:HMST) had its price target hoisted by equities researchers at Piper Sandler from $10.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective points to a potential upside of 18.21% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Wedbush boosted their price objective on shares of HomeStreet from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.25.

HomeStreet Stock Up 0.9 %

Shares of HomeStreet stock traded up $0.10 during trading on Tuesday, hitting $11.84. 428,582 shares of the stock were exchanged, compared to its average volume of 156,950. The stock has a market cap of $224.08 million, a price-to-earnings ratio of -1.55 and a beta of 1.45. The firm’s 50-day moving average price is $9.81 and its 200 day moving average price is $11.50. The company has a debt-to-equity ratio of 3.09, a current ratio of 1.02 and a quick ratio of 1.02. HomeStreet has a 12-month low of $8.09 and a 12-month high of $16.10.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). HomeStreet had a negative return on equity of 4.23% and a negative net margin of 40.30%. As a group, analysts forecast that HomeStreet will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HomeStreet

Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in HomeStreet by 66.1% in the 4th quarter. Russell Investments Group Ltd. now owns 3,181 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,266 shares during the last quarter. Assetmark Inc. purchased a new position in HomeStreet in the fourth quarter worth $40,000. EMC Capital Management lifted its holdings in HomeStreet by 20.8% in the fourth quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 1,484 shares during the period. Oxford Asset Management LLP purchased a new stake in shares of HomeStreet during the 4th quarter worth $118,000. Finally, Wells Fargo & Company MN boosted its position in shares of HomeStreet by 27.5% during the 4th quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 2,339 shares in the last quarter. 74.71% of the stock is owned by institutional investors and hedge funds.

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.