HomeStreet (NASDAQ:HMST) Rating Increased to Buy at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of HomeStreet (NASDAQ:HMSTFree Report) from a neutral rating to a buy rating in a report released on Thursday, Marketbeat.com reports. They currently have $13.50 price target on the financial services provider’s stock.

A number of other research firms also recently weighed in on HMST. Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $13.50 price target on shares of HomeStreet in a research note on Tuesday, June 18th. StockNews.com initiated coverage on HomeStreet in a research note on Tuesday, June 18th. They set a sell rating on the stock. 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 MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $12.00.

Read Our Latest Report on HMST

HomeStreet Stock Down 0.5 %

HMST stock opened at $10.96 on Thursday. The stock’s 50 day simple moving average is $10.35 and its 200 day simple moving average is $11.94. HomeStreet has a fifty-two week low of $4.20 and a fifty-two week high of $15.82. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $206.71 million, a P/E ratio of -5.15 and a beta of 1.33.

HomeStreet (NASDAQ:HMSTGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.23). HomeStreet had a negative return on equity of 0.43% and a negative net margin of 8.97%. The firm had revenue of $41.61 million for the quarter, compared to analyst estimates of $48.07 million. On average, research analysts expect that HomeStreet will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of HomeStreet

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake 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 worth $6,045,000 after purchasing an additional 127,969 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of HomeStreet by 47.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 435,099 shares of the financial services provider’s stock valued at $3,389,000 after acquiring an additional 140,357 shares in the last quarter. Acuitas Investments LLC grew its holdings in shares of HomeStreet by 86.0% in the fourth quarter. Acuitas Investments LLC now owns 342,643 shares of the financial services provider’s stock valued at $3,529,000 after acquiring an additional 158,455 shares in the last quarter. Terrapin Asset Management LLC bought a new position in shares of HomeStreet in the third quarter valued at approximately $1,926,000. Finally, Kennedy Capital Management LLC bought a new position in shares of HomeStreet in the first quarter valued at approximately $3,720,000. 74.71% of the stock is owned by hedge funds and other institutional investors.

About HomeStreet

(Get Free Report)

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.

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