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

Equities research analysts at StockNews.com began coverage on shares of HomeStreet (NASDAQ:HMST) in a report issued on Sunday. The firm set a “sell” rating on the financial services provider’s stock.

HMST has been the topic of several other reports. Janney Montgomery Scott upgraded HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a report on Thursday, June 20th. Keefe, Bruyette & Woods boosted their target price on shares of HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.25.

HomeStreet Trading Down 0.7 %

HMST opened at $14.75 on Friday. The company’s 50 day moving average is $14.68 and its 200-day moving average is $12.79. The company has a market cap of $278.16 million, a P/E ratio of -6.92 and a beta of 1.37. HomeStreet has a 1-year low of $4.20 and a 1-year high of $16.10. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 4.06.

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

Insider Transactions at HomeStreet

In related news, Director Paulette Lemon sold 2,401 shares of HomeStreet stock in a transaction on Friday, August 30th. The shares were sold at an average price of $15.59, for a total transaction of $37,431.59. Following the completion of the transaction, the director now owns 16,923 shares of the company’s stock, valued at $263,829.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. EMC Capital Management increased its holdings in shares of HomeStreet by 16.2% during the first quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,201 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of HomeStreet in the second quarter valued at $122,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of HomeStreet by 23.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock valued at $164,000 after buying an additional 2,703 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of HomeStreet by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 1,354 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of HomeStreet in the 4th quarter worth about $151,000. 74.71% of the stock is owned by institutional investors and hedge funds.

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.