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

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

Several other brokerages have also weighed in on HMST. Janney Montgomery Scott upgraded shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective on the stock in a report on Thursday, June 20th. Keefe, Bruyette & Woods upped their price target on HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, HomeStreet currently has a consensus rating of “Hold” and a consensus price target of $12.25.

HomeStreet Trading Down 2.9 %

NASDAQ HMST opened at $14.85 on Friday. HomeStreet has a one year low of $4.20 and a one year high of $16.10. The company has a debt-to-equity ratio of 4.06, a current ratio of 1.14 and a quick ratio of 1.14. The business has a 50 day simple moving average of $14.65 and a 200 day simple moving average of $12.80. The stock has a market capitalization of $280.04 million, a P/E ratio of -6.97 and a beta of 1.37.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings data on Monday, July 29th. The financial services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.01. HomeStreet had a negative net margin of 3.30% and a negative return on equity of 1.87%. The company had revenue of $114.35 million during the quarter, compared to analyst estimates of $43.33 million. Research analysts expect that HomeStreet will post -0.87 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Paulette Lemon sold 2,401 shares of HomeStreet stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $15.59, for a total transaction of $37,431.59. Following the completion of the transaction, the director now directly owns 16,923 shares in the company, valued at $263,829.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HMST. Squarepoint Ops LLC bought a new position in HomeStreet in the 2nd quarter valued at $122,000. EMC Capital Management raised its stake in HomeStreet by 16.2% in the first quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,201 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of HomeStreet during the 4th quarter valued at $151,000. Vanguard Personalized Indexing Management LLC raised its position in HomeStreet by 23.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 2,703 shares in the last quarter. Finally, Neuberger Berman Group LLC purchased a new position in shares of HomeStreet during the 4th quarter valued at about $170,000. Institutional investors own 74.71% of the company’s stock.

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.