HomeStreet (NASDAQ:HMST) Price Target Raised to $15.00

HomeStreet (NASDAQ:HMST) had its price objective increased by analysts at Wedbush from $12.00 to $15.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Wedbush’s price objective suggests a potential upside of 37.61% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Janney Montgomery Scott cut shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. StockNews.com initiated coverage on shares of HomeStreet in a report on Sunday, September 22nd. They issued a “sell” rating on the stock.

HomeStreet Trading Down 0.8 %

NASDAQ HMST opened at $10.90 on Thursday. The business’s fifty day moving average is $12.10 and its 200-day moving average is $12.92. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.15 and a quick ratio of 1.15. The stock has a market capitalization of $205.55 million, a price-to-earnings ratio of -8.38 and a beta of 1.49. HomeStreet has a one year low of $8.09 and a one year high of $16.10.

Insider Buying and Selling at HomeStreet

In related news, Director Sidney Craig Tompkins purchased 5,000 shares of HomeStreet stock in a transaction dated Tuesday, December 17th. The stock was bought at an average cost of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $57,450. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John Michel sold 8,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $11.26, for a total value of $90,080.00. Following the sale, the chief financial officer now directly owns 28,409 shares in the company, valued at $319,885.34. This trade represents a 21.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,846 shares of company stock valued at $203,697 over the last three months. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in shares of HomeStreet by 494.0% in the third quarter. Wellington Management Group LLP now owns 670,926 shares of the financial services provider’s stock valued at $10,574,000 after acquiring an additional 557,977 shares during the period. Dimensional Fund Advisors LP lifted its stake in HomeStreet by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after purchasing an additional 28,874 shares in the last quarter. Stieven Capital Advisors L.P. bought a new position in HomeStreet in the 3rd quarter valued at $5,358,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of HomeStreet during the 3rd quarter valued at $2,633,000. Finally, Mendon Capital Advisors Corp grew its position in shares of HomeStreet by 21.0% during the 2nd quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock valued at $4,138,000 after purchasing an additional 63,000 shares in the last quarter. Hedge funds and other 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.