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

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

Other analysts have also recently issued research reports about the stock. Janney Montgomery Scott upgraded shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective on the stock in a research report on Thursday, June 20th. 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.00.

HomeStreet Price Performance

Shares of NASDAQ HMST opened at $11.06 on Wednesday. The stock’s 50-day simple moving average is $10.24 and its two-hundred day simple moving average is $12.01. HomeStreet has a twelve month low of $4.20 and a twelve month high of $15.82. The firm has a market capitalization of $208.59 million, a P/E ratio of -5.19 and a beta of 1.33. 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 posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported ($0.29) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $41.61 million during the quarter, compared to the consensus estimate of $48.07 million. As a group, equities analysts anticipate that HomeStreet will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On HomeStreet

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in 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 during the period. Jacobs Levy Equity Management Inc. boosted its holdings 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 valued at $3,389,000 after buying an additional 140,357 shares in the last quarter. Acuitas Investments LLC boosted its stake in 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 acquiring an additional 158,455 shares in the last quarter. Terrapin Asset Management LLC purchased a new stake in shares of HomeStreet in the 3rd quarter worth approximately $1,926,000. Finally, Kennedy Capital Management LLC purchased a new stake in shares of HomeStreet in the first quarter worth $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.