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

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

A number of other research analysts have also issued reports on the stock. Wedbush raised their target price on shares of HomeStreet from $15.00 to $16.00 and gave the company a neutral rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods raised their price target 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. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, HomeStreet presently has an average rating of Hold and an average target price of $12.17.

HomeStreet Stock Performance

NASDAQ:HMST opened at $10.97 on Wednesday. HomeStreet has a 1 year low of $4.20 and a 1 year high of $15.82. The firm’s fifty day simple moving average is $13.95 and its 200 day simple moving average is $10.96. The company has a current ratio of 1.11, a quick ratio of 1.10 and a debt-to-equity ratio of 3.66. The firm has a market capitalization of $206.89 million, a PE ratio of -7.51 and a beta of 1.32.

HomeStreet (NASDAQ:HMST) last posted its earnings results on Monday, January 29th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). HomeStreet had a negative net margin of 6.23% and a positive return on equity of 1.55%. The firm had revenue of $45.95 million during the quarter, compared to analyst estimates of $49.73 million. On average, sell-side analysts anticipate that HomeStreet will post 0.19 EPS for the current year.

Insiders Place Their Bets

In related news, Director Joanne R. Harrell purchased 1,685 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $14.87 per share, for a total transaction of $25,055.95. Following the transaction, the director now directly owns 14,907 shares of the company’s stock, valued at approximately $221,667.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.60% of the company’s stock.

Institutional Trading of HomeStreet

Several institutional investors have recently made changes to their positions in HMST. PNC Financial Services Group Inc. boosted its position in shares of HomeStreet by 167.2% during the 3rd 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. CWM LLC boosted its position in shares of HomeStreet by 2,222.2% during the 4th quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 3,400 shares in the last quarter. AJOVista LLC acquired a new stake in shares of HomeStreet during the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC boosted its position in shares of HomeStreet by 132.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 2,503 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of HomeStreet during the 3rd quarter valued at about $71,000. 74.71% of the stock is currently 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.