HomeStreet (NASDAQ:HMST) Now Covered by StockNews.com

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

Separately, Keefe, Bruyette & Woods decreased their target price on shares of HomeStreet from $15.50 to $13.50 and set a “market perform” rating for the company in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.50.

HomeStreet Stock Performance

NASDAQ:HMST opened at $8.74 on Friday. HomeStreet has a fifty-two week low of $4.20 and a fifty-two week high of $15.82. The firm’s 50 day moving average is $11.71 and its two-hundred day moving average is $11.71. The company has a market cap of $164.84 million, a P/E ratio of -4.10 and a beta of 1.34. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 4.40.

HomeStreet (NASDAQ:HMST) last announced 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). The business had revenue of $41.61 million for the quarter, compared to analyst estimates of $48.07 million. HomeStreet had a negative net margin of 8.97% and a negative return on equity of 0.43%. Analysts expect that HomeStreet will post -0.8 EPS for the current year.

Insider Activity

In other HomeStreet news, Director Joanne R. Harrell bought 1,685 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $14.87 per share, with a total value of $25,055.95. Following the completion of the purchase, the director now directly owns 14,907 shares in the company, valued at $221,667.09. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 4.60% of the stock is owned by insiders.

Hedge Funds Weigh In On HomeStreet

A number of institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of HomeStreet by 27.9% during 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 buying an additional 127,969 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of HomeStreet by 47.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 435,099 shares of the financial services provider’s stock worth $3,389,000 after purchasing an additional 140,357 shares during the last quarter. Acuitas Investments LLC lifted its holdings in shares of HomeStreet by 86.0% during the fourth quarter. Acuitas Investments LLC now owns 342,643 shares of the financial services provider’s stock worth $3,529,000 after buying an additional 158,455 shares during the last quarter. Terrapin Asset Management LLC bought a new stake in HomeStreet in the 3rd quarter valued at $1,926,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of HomeStreet in the first quarter valued at about $3,720,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.

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.