Wedbush Raises HomeStreet (NASDAQ:HMST) Price Target to $15.00

HomeStreet (NASDAQ:HMST) had its target price hoisted by equities research analysts at Wedbush from $12.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Wedbush’s target price suggests a potential upside of 37.61% from the company’s previous close.

HMST has been the subject of several other research reports. Janney Montgomery Scott cut 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 research report on Sunday, September 22nd. They set a “sell” rating for the company.

HomeStreet Price Performance

HomeStreet stock opened at $10.90 on Thursday. The stock’s 50 day moving average is $12.10 and its 200 day moving average is $12.92. HomeStreet has a one year low of $8.09 and a one year high of $16.10. The firm has a market cap of $205.55 million, a P/E ratio of -8.38 and a beta of 1.49. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.15 and a quick ratio of 1.15.

Insiders Place Their Bets

In other news, CFO John Michel sold 8,000 shares of HomeStreet stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $11.26, for a total transaction of $90,080.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joanne R. Harrell bought 2,146 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were acquired at an average cost of $11.65 per share, with a total value of $25,000.90. Following the completion of the transaction, the director now owns 17,053 shares of the company’s stock, valued at $198,667.45. This represents a 14.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 17,846 shares of company stock worth $203,697. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State Street Corp grew its holdings in HomeStreet by 0.3% during the third quarter. State Street Corp now owns 422,031 shares of the financial services provider’s stock worth $6,651,000 after buying an additional 1,083 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of HomeStreet by 23.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 2,703 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of HomeStreet by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock valued at $809,000 after purchasing an additional 3,113 shares during the last quarter. Jane Street Group LLC lifted its position in shares of HomeStreet by 20.2% during the third quarter. Jane Street Group LLC now owns 40,572 shares of the financial services provider’s stock valued at $639,000 after purchasing an additional 6,810 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in HomeStreet by 1.9% during the third quarter. Geode Capital Management LLC now owns 426,130 shares of the financial services provider’s stock worth $6,717,000 after purchasing an additional 7,898 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.