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

StockNews.com initiated coverage on shares of HomeStreet (NASDAQ:HMST) in a research report released on Sunday morning. The brokerage issued a sell rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the company. Janney Montgomery Scott upgraded HomeStreet from a neutral rating to a buy rating and set a $13.50 price objective for the company in a research report on Thursday, June 20th. Keefe, Bruyette & Woods upped their target price on shares of HomeStreet from $13.50 to $14.50 and gave the company a market perform rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, HomeStreet presently has an average rating of Hold and a consensus target price of $12.25.

HomeStreet Trading Up 1.4 %

Shares of HomeStreet stock opened at $14.71 on Friday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.14 and a current ratio of 1.14. The company has a fifty day moving average of $14.72 and a 200 day moving average of $12.79. The company has a market capitalization of $277.43 million, a P/E ratio of -6.91 and a beta of 1.37. HomeStreet has a fifty-two week low of $4.20 and a fifty-two week high of $16.10.

HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.01. The firm had revenue of $114.35 million during the quarter, compared to analysts’ expectations of $43.33 million. HomeStreet had a negative return on equity of 1.87% and a negative net margin of 3.30%. On average, sell-side analysts anticipate that HomeStreet will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other HomeStreet news, Director Paulette Lemon sold 2,401 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $15.59, for a total value of $37,431.59. Following the sale, the director now owns 16,923 shares in the company, valued at $263,829.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Endeavour Capital Advisors Inc. lifted its holdings in HomeStreet by 113.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock valued at $8,051,000 after buying an additional 375,581 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of HomeStreet by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after acquiring an additional 28,874 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of HomeStreet by 27.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 586,929 shares of the financial services provider’s stock valued at $6,045,000 after purchasing an additional 127,969 shares during the period. Mendon Capital Advisors Corp grew its stake in HomeStreet by 21.0% in the second quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock worth $4,138,000 after purchasing an additional 63,000 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new position in HomeStreet in the first quarter worth approximately $3,720,000. 74.71% of the stock is currently owned by 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.