Keefe, Bruyette & Woods Trims HomeStreet (NASDAQ:HMST) Target Price to $13.50

HomeStreet (NASDAQ:HMST) had its price target lowered by equities researchers at Keefe, Bruyette & Woods from $15.50 to $13.50 in a report released on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 28.82% from the company’s previous close.

A number of other research firms also recently commented on HMST. StockNews.com initiated coverage on shares of HomeStreet in a research report on Wednesday, May 1st. They set a “sell” rating on the stock. Wedbush lifted their price objective on shares of HomeStreet from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, HomeStreet presently has a consensus rating of “Hold” and a consensus target price of $11.50.

HomeStreet Price Performance

HMST opened at $10.48 on Tuesday. The company has a market capitalization of $197.63 million, a price-to-earnings ratio of -4.92 and a beta of 1.35. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 4.40. HomeStreet has a 12-month low of $4.20 and a 12-month high of $15.82. The business’s fifty day simple moving average is $13.58 and its 200-day simple moving average is $11.14.

Insider Buying and Selling at HomeStreet

In other news, Director Joanne R. Harrell acquired 1,685 shares of HomeStreet stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average price of $14.87 per share, for a total transaction of $25,055.95. Following the purchase, the director now directly owns 14,907 shares in the company, valued at approximately $221,667.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caldwell Sutter Capital Inc. purchased a new stake in HomeStreet in the first quarter valued at about $903,000. CCG Wealth Management LLC increased its holdings in shares of HomeStreet by 29.3% during the first quarter. CCG Wealth Management LLC now owns 229,781 shares of the financial services provider’s stock valued at $3,458,000 after acquiring an additional 52,136 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of HomeStreet in the 4th quarter valued at approximately $2,112,000. Neuberger Berman Group LLC acquired a new stake in HomeStreet in the 4th quarter worth approximately $170,000. Finally, Tower Research Capital LLC TRC grew its position in 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 worth $45,000 after purchasing an additional 2,503 shares during the last quarter. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

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.