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

StockNews.com assumed coverage on shares of HomeStreet (NASDAQ:HMST) in a research report report published on Saturday morning. The brokerage issued a sell rating on the financial services provider’s stock.

Several other equities analysts also recently commented on the company. 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 increased their price target on HomeStreet from $13.50 to $14.50 and gave the company a market perform rating in a report on Tuesday, July 30th. 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 data from MarketBeat.com, HomeStreet currently has an average rating of Hold and an average target price of $12.25.

HomeStreet Trading Up 0.6 %

NASDAQ:HMST opened at $15.50 on Friday. The stock’s 50 day moving average price is $14.35 and its 200 day moving average price is $12.76. HomeStreet has a 52 week low of $4.20 and a 52 week high of $16.10. The company has a market capitalization of $292.30 million, a P/E ratio of -7.28 and a beta of 1.37. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.14 and a current ratio of 1.14.

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

Insider Buying and Selling at HomeStreet

In other news, Director Paulette Lemon sold 2,401 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $15.59, for a total value of $37,431.59. Following the completion of the sale, the director now directly owns 16,923 shares of the company’s stock, valued at $263,829.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On HomeStreet

Several hedge funds have recently modified their holdings of the business. Endeavour Capital Advisors Inc. boosted its position in shares of HomeStreet by 113.6% in the second quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock valued at $8,051,000 after acquiring an additional 375,581 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of HomeStreet by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock valued at $7,299,000 after acquiring an additional 28,874 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 valued at $6,045,000 after acquiring an additional 127,969 shares during the period. Mendon Capital Advisors Corp boosted its position in shares of HomeStreet by 21.0% in the second quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock valued at $4,138,000 after acquiring an additional 63,000 shares during the period. Finally, Kennedy Capital Management LLC bought a new stake in shares of HomeStreet in the first quarter valued at approximately $3,720,000. 74.71% of the stock is owned by institutional investors.

About HomeStreet

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.