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

Equities research analysts at StockNews.com assumed 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.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods raised 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. Janney Montgomery Scott upgraded shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective for the company in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.25.

HomeStreet Stock Down 2.9 %

NASDAQ HMST opened at $14.85 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 4.06. The company has a market cap of $280.04 million, a price-to-earnings ratio of -6.97 and a beta of 1.37. The company has a 50 day moving average of $14.65 and a 200-day moving average of $12.80. HomeStreet has a 1-year low of $4.20 and a 1-year high of $16.10.

HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $43.33 million. On average, equities research analysts expect that HomeStreet will post -0.87 earnings per share for the current fiscal year.

Insider Activity at HomeStreet

In related news, Director Paulette Lemon sold 2,401 shares of the stock in a transaction that occurred 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 owns 16,923 shares of the company’s stock, valued at approximately $263,829.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On HomeStreet

A number of hedge funds have recently modified their holdings of HMST. Endeavour Capital Advisors Inc. raised its position in 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 purchasing an additional 375,581 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of HomeStreet by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after acquiring an additional 28,874 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 worth $6,045,000 after acquiring an additional 127,969 shares during the period. Mendon Capital Advisors Corp boosted its holdings in 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 last quarter. Finally, Kennedy Capital Management LLC acquired a new stake in HomeStreet during the 1st quarter valued at approximately $3,720,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

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.