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

StockNews.com assumed coverage on shares of HomeStreet (NASDAQ:HMST) in a research report sent to investors on Tuesday morning. The firm issued a sell rating on the financial services provider’s stock.

A number of other research firms have also weighed in on HMST. Keefe, Bruyette & Woods increased their price objective on shares of HomeStreet from $11.00 to $15.50 and gave the stock a market perform rating in a research report on Wednesday, January 17th. Wedbush increased their price target on 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 stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $12.17.

HomeStreet Stock Performance

NASDAQ:HMST opened at $12.97 on Tuesday. The firm has a market capitalization of $244.61 million, a PE ratio of -8.88 and a beta of 1.32. The stock’s fifty day moving average is $14.09 and its 200 day moving average is $10.76. HomeStreet has a fifty-two week low of $4.20 and a fifty-two week high of $17.67. 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 posted its quarterly earnings data on Monday, January 29th. The financial services provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). The firm had revenue of $45.95 million for the quarter, compared to the consensus estimate of $49.73 million. HomeStreet had a negative net margin of 6.23% and a positive return on equity of 1.55%. On average, sell-side analysts anticipate that HomeStreet will post 0.19 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joanne R. Harrell acquired 1,685 shares of the 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 transaction, the director now directly owns 14,907 shares in the company, valued at $221,667.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.60% of the stock is currently owned by insiders.

Institutional Trading of HomeStreet

Several institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its holdings in HomeStreet by 1,460.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 184,013 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 172,221 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of HomeStreet by 47.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 435,099 shares of the financial services provider’s stock valued at $3,389,000 after buying an additional 140,357 shares during the period. Acuitas Investments LLC bought a new stake in shares of HomeStreet in the third quarter valued at about $1,435,000. PNC Financial Services Group Inc. raised its holdings in shares of HomeStreet by 167.2% in the third quarter. PNC Financial Services Group Inc. now owns 3,284 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 2,055 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in HomeStreet by 49.6% in the third quarter. Federated Hermes Inc. now owns 33,802 shares of the financial services provider’s stock worth $263,000 after acquiring an additional 11,213 shares during the period. Institutional investors own 74.71% of the company’s stock.

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.