HomeStreet (NASDAQ:HMST) Price Target Raised to $15.00

HomeStreet (NASDAQ:HMST) had its target price increased by stock analysts at Wedbush from $12.00 to $15.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Wedbush’s target price would indicate a potential upside of 38.76% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Janney Montgomery Scott cut shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. StockNews.com began coverage on shares of HomeStreet in a research report on Sunday, September 22nd. They issued a “sell” rating on the stock.

HomeStreet Stock Down 6.2 %

Shares of HomeStreet stock opened at $10.81 on Thursday. HomeStreet has a twelve month low of $8.09 and a twelve month high of $16.10. The company’s 50 day moving average is $12.18 and its 200 day moving average is $12.93. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 3.94. The company has a market cap of $203.85 million, a price-to-earnings ratio of -8.32 and a beta of 1.49.

Insider Activity at HomeStreet

In other HomeStreet news, Director Sidney Craig Tompkins bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $57,450. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO John Michel sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $11.26, for a total value of $90,080.00. Following the completion of the transaction, the chief financial officer now owns 28,409 shares of the company’s stock, valued at $319,885.34. The trade was a 21.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,846 shares of company stock worth $203,697. 4.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On HomeStreet

Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in HomeStreet by 494.0% in the third quarter. Wellington Management Group LLP now owns 670,926 shares of the financial services provider’s stock worth $10,574,000 after purchasing an additional 557,977 shares during the last quarter. Endeavour Capital Advisors Inc. lifted its stake in shares of HomeStreet by 113.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock worth $8,051,000 after acquiring an additional 375,581 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new position in HomeStreet during the 3rd quarter valued at $5,358,000. Hotchkis & Wiley Capital Management LLC bought a new position in HomeStreet in the 3rd quarter valued at $2,633,000. Finally, Philadelphia Financial Management of San Francisco LLC increased its stake in HomeStreet by 4.6% in the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,562,434 shares of the financial services provider’s stock worth $24,624,000 after purchasing an additional 68,855 shares during the period. 74.71% of the stock is owned by hedge funds and other 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.