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

StockNews.com began coverage on shares of HomeStreet (NASDAQ:HMST) in a research note published on Tuesday morning. The brokerage issued a sell rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods decreased their price target on HomeStreet from $15.50 to $13.50 and set a market perform rating for the company in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $11.50.

HomeStreet Stock Performance

Shares of NASDAQ HMST opened at $10.50 on Tuesday. The stock has a fifty day moving average price of $10.47 and a two-hundred day moving average price of $11.90. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $198.03 million, a P/E ratio of -4.93 and a beta of 1.34. HomeStreet has a 1 year low of $4.20 and a 1 year high of $15.82.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.23). The firm had revenue of $41.61 million for the quarter, compared to the consensus estimate of $48.07 million. HomeStreet had a negative net margin of 8.97% and a negative return on equity of 0.43%. Research analysts forecast that HomeStreet will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On HomeStreet

Several large investors have recently modified their holdings of HMST. Vanguard Personalized Indexing Management LLC bought a new stake in shares of HomeStreet during the 3rd quarter worth $84,000. PNC Financial Services Group Inc. boosted its stake 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 worth $26,000 after acquiring an additional 2,055 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of HomeStreet by 49.6% during the 3rd 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of HomeStreet during the 3rd quarter worth $478,000. Finally, Terrapin Asset Management LLC bought a new stake in shares of HomeStreet during the 3rd quarter worth $1,926,000. 74.71% of the stock is owned by 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.