HomeStreet (NASDAQ:HMST) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of HomeStreet (NASDAQ:HMST) in a note issued to investors on Wednesday. The firm set a “sell” rating on the financial services provider’s stock.

Several other research firms have also recently issued reports on HMST. Keefe, Bruyette & Woods increased their price target on shares of HomeStreet from $11.00 to $15.50 and gave the stock a “market perform” rating in a report on Wednesday, January 17th. Wedbush increased their price target on shares of HomeStreet from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.17.

HomeStreet Price Performance

Shares of HMST opened at $10.82 on Wednesday. HomeStreet has a fifty-two week low of $4.20 and a fifty-two week high of $15.82. The company has a market capitalization of $204.07 million, a price-to-earnings ratio of -5.08 and a beta of 1.35. The firm has a 50-day simple moving average of $13.89 and a 200-day simple moving average of $10.96. The company has a debt-to-equity ratio of 3.66, a quick ratio of 1.10 and a current ratio of 1.11.

HomeStreet (NASDAQ:HMST) last announced its earnings results on Monday, January 29th. The financial services provider reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.15). The business had revenue of $45.95 million for the quarter, compared to analyst estimates of $49.73 million. HomeStreet had a negative return on equity of 0.43% and a negative net margin of 8.97%. On average, equities research analysts anticipate that HomeStreet will post 0.19 earnings per share for the current year.

Insider Buying and Selling at HomeStreet

In related news, Director Joanne R. Harrell bought 1,685 shares of the company’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $14.87 per share, with a total value of $25,055.95. Following the completion of the acquisition, the director now owns 14,907 shares in the company, valued at approximately $221,667.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in HomeStreet by 27.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 586,929 shares of the financial services provider’s stock valued at $6,045,000 after buying an additional 127,969 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of HomeStreet by 47.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 435,099 shares of the financial services provider’s stock worth $3,389,000 after purchasing an additional 140,357 shares in the last quarter. Acuitas Investments LLC increased its stake in shares of HomeStreet by 86.0% during the 4th quarter. Acuitas Investments LLC now owns 342,643 shares of the financial services provider’s stock worth $3,529,000 after purchasing an additional 158,455 shares in the last quarter. Terrapin Asset Management LLC purchased a new position in shares of HomeStreet during the 3rd quarter worth approximately $1,926,000. Finally, CCG Wealth Management LLC increased its stake in shares of HomeStreet by 29.3% during the 1st quarter. CCG Wealth Management LLC now owns 229,781 shares of the financial services provider’s stock worth $3,458,000 after purchasing an additional 52,136 shares in the last quarter. 74.71% of the stock is owned by hedge funds and other institutional investors.

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.