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

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

Several other research analysts have also recently weighed in on HMST. Wedbush boosted 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. Keefe, Bruyette & Woods increased their target price on shares of HomeStreet from $11.00 to $15.50 and gave the company a “market perform” rating in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, HomeStreet currently has an average rating of “Hold” and a consensus target price of $12.17.

HomeStreet Price Performance

Shares of HomeStreet stock opened at $12.27 on Tuesday. The firm has a market cap of $231.39 million, a PE ratio of -8.40 and a beta of 1.32. HomeStreet has a 12-month low of $4.20 and a 12-month high of $15.82. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 3.66. The company’s fifty day simple moving average is $14.09 and its two-hundred day simple moving average is $10.76.

HomeStreet (NASDAQ:HMST) last issued its quarterly 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 business had revenue of $45.95 million for the quarter, compared to analysts’ expectations of $49.73 million. As a group, equities analysts expect that HomeStreet will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other news, Director Joanne R. Harrell purchased 1,685 shares of the stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $14.87 per share, for a total transaction of $25,055.95. Following the acquisition, the director now owns 14,907 shares of the company’s stock, valued at $221,667.09. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.60% of the stock is owned by company insiders.

Institutional Trading of HomeStreet

A number of institutional investors have recently modified their holdings of HMST. PNC Financial Services Group Inc. raised its position in shares of HomeStreet by 167.2% in 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 purchasing an additional 2,055 shares during the last quarter. CWM LLC raised its position in HomeStreet by 2,222.2% during the 4th quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock worth $37,000 after buying an additional 3,400 shares during the last quarter. AJOVista LLC purchased a new position in HomeStreet during the 4th quarter worth approximately $38,000. Tower Research Capital LLC TRC raised 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 buying an additional 2,503 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in HomeStreet during the 3rd quarter worth approximately $71,000. 74.71% of the stock is currently 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.