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

Analysts at StockNews.com assumed coverage on shares of HomeStreet (NASDAQ:HMST) in a research note issued 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 the stock. Keefe, Bruyette & Woods boosted their price objective on shares of HomeStreet from $11.00 to $15.50 and gave the stock a “market perform” rating in a research report on Wednesday, January 17th. Wedbush boosted their price objective on shares of HomeStreet from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.17.

HomeStreet Stock Down 5.4 %

Shares of HMST opened at $12.27 on Tuesday. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.11 and a quick ratio of 1.10. The business’s 50 day simple moving average is $14.09 and its 200-day simple moving average is $10.76. HomeStreet has a one year low of $4.20 and a one year high of $15.82. The company has a market capitalization of $231.39 million, a P/E ratio of -8.40 and a beta of 1.32.

HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Monday, January 29th. The financial services provider reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.15). HomeStreet had a positive return on equity of 1.55% and a negative net margin of 6.23%. The company had revenue of $45.95 million during the quarter, compared to the consensus estimate of $49.73 million. As a group, sell-side analysts predict that HomeStreet will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at HomeStreet

In other HomeStreet news, Director Joanne R. Harrell bought 1,685 shares of the company’s stock in a transaction on Friday, March 15th. The stock was bought at an average price of $14.87 per share, for a total transaction of $25,055.95. Following the transaction, the director now owns 14,907 shares of the company’s stock, valued at approximately $221,667.09. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of HomeStreet

A number of large investors have recently made changes to their positions in HMST. Acuitas Investments LLC acquired a new position in HomeStreet in the 3rd quarter worth $1,435,000. Allspring Global Investments Holdings LLC acquired a new position in HomeStreet in the 3rd quarter worth $71,000. Assenagon Asset Management S.A. boosted its stake in HomeStreet by 1,460.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 184,013 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 172,221 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in HomeStreet in the 3rd quarter worth $84,000. Finally, Campbell & CO Investment Adviser LLC boosted its stake in shares of HomeStreet by 135.0% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 32,827 shares of the financial services provider’s stock worth $256,000 after buying an additional 18,859 shares during the last quarter. 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.