HomeStreet (NASDAQ:HMST) Lowered to “Hold” Rating by Janney Montgomery Scott

Janney Montgomery Scott cut shares of HomeStreet (NASDAQ:HMST) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their target price on shares of HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a report on Tuesday, July 30th. StockNews.com began coverage on shares of HomeStreet in a research note on Sunday, September 22nd. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.25.

HomeStreet Stock Performance

NASDAQ:HMST opened at $9.06 on Wednesday. The firm has a 50 day simple moving average of $14.97 and a 200-day simple moving average of $12.83. The company has a debt-to-equity ratio of 4.06, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $170.78 million, a PE ratio of -6.97 and a beta of 1.37. HomeStreet has a 1-year low of $4.38 and a 1-year high of $16.10.

HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.12). The firm had revenue of $39.68 million during the quarter, compared to analyst estimates of $42.93 million. HomeStreet had a negative net margin of 5.44% and a negative return on equity of 3.42%. On average, equities analysts expect that HomeStreet will post -0.87 EPS for the current year.

Insiders Place Their Bets

In other news, Director Paulette Lemon sold 2,401 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $15.59, for a total value of $37,431.59. Following the completion of the transaction, the director now directly owns 16,923 shares in the company, valued at approximately $263,829.57. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in HomeStreet by 10.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 1,354 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in HomeStreet in the first quarter valued at $3,720,000. EMC Capital Management raised its holdings in HomeStreet by 16.2% in the first quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 1,201 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in HomeStreet by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock valued at $809,000 after acquiring an additional 3,113 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in 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 in the last quarter. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

HomeStreet Company Profile

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.