HomeStreet (NASDAQ:HMST) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of HomeStreet (NASDAQ:HMSTFree Report) in a research note issued to investors on Friday morning. The firm issued a sell rating on the financial services provider’s stock.

HMST has been the topic of a number of other reports. Keefe, Bruyette & Woods dropped their target price on shares of HomeStreet from $15.50 to $13.50 and set a market perform rating on the stock in a research note on Tuesday, May 7th. Wedbush upped their price objective on HomeStreet from $15.00 to $16.00 and gave the company a neutral rating in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $11.50.

View Our Latest Stock Report on HomeStreet

HomeStreet Stock Performance

Shares of HomeStreet stock opened at $10.27 on Friday. The business’s fifty day simple moving average is $12.96 and its 200 day simple moving average is $11.45. 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 firm has a market capitalization of $193.69 million, a P/E ratio of -4.82 and a beta of 1.35.

HomeStreet (NASDAQ:HMSTGet Free Report) last released its earnings results on Tuesday, April 30th. The financial services provider reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.23). The business had revenue of $41.61 million for the quarter, compared to the consensus estimate of $48.07 million. HomeStreet had a negative return on equity of 0.43% and a negative net margin of 8.97%. As a group, analysts anticipate that HomeStreet will post -0.8 EPS for the current year.

Insiders Place Their Bets

In other HomeStreet news, Director Joanne R. Harrell purchased 1,685 shares of the stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $14.87 per share, with a total value of $25,055.95. Following the completion of the transaction, the director now directly owns 14,907 shares in the company, valued at approximately $221,667.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.60% of the company’s stock.

Institutional Trading of HomeStreet

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. grew its holdings in HomeStreet by 2.4% during the 4th quarter. Russell Investments Group Ltd. now owns 34,288 shares of the financial services provider’s stock valued at $353,000 after buying an additional 810 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of HomeStreet by 10.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 1,354 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of HomeStreet by 167.2% in the third 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 during the period. Tower Research Capital LLC TRC grew its stake in HomeStreet by 132.8% during the fourth 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, CWM LLC increased its holdings 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 acquiring an additional 3,400 shares during the period. 74.71% of the stock is currently owned by institutional investors.

HomeStreet Company Profile

(Get Free Report)

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.

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