HomeStreet (NASDAQ:HMST) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of HomeStreet, Inc. (NASDAQ:HMST) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.81 and traded as high as $15.03. HomeStreet shares last traded at $14.57, with a volume of 74,082 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HMST shares. Keefe, Bruyette & Woods lifted their price objective on shares of HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. StockNews.com initiated coverage on HomeStreet in a research report on Sunday, September 22nd. They issued a “sell” rating for the company. One 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.25.

HomeStreet Stock Down 3.2 %

The company’s 50 day simple moving average is $15.17 and its 200-day simple moving average is $12.82. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $274.76 million, a PE ratio of -6.84 and a beta of 1.37.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings data on Monday, July 29th. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, topping 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 company had revenue of $114.35 million for the quarter, compared to the consensus estimate of $43.33 million. On average, analysts forecast that HomeStreet, Inc. will post -0.87 EPS for the current fiscal year.

Insider Activity

In related news, Director Paulette Lemon sold 2,401 shares of the firm’s 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 sale, the director now directly owns 16,923 shares of the company’s stock, valued at $263,829.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HMST. Endeavour Capital Advisors Inc. boosted its holdings in shares of HomeStreet by 113.6% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in HomeStreet by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after buying an additional 28,874 shares during the last quarter. Mendon Capital Advisors Corp boosted its stake 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 worth $4,138,000 after buying an additional 63,000 shares in the last quarter. Kennedy Capital Management LLC bought a new position in HomeStreet during the first quarter valued at approximately $3,720,000. Finally, CCG Wealth Management LLC raised its stake in shares of HomeStreet by 29.3% during the first quarter. CCG Wealth Management LLC now owns 229,781 shares of the financial services provider’s stock worth $3,458,000 after acquiring an additional 52,136 shares in the last quarter. Institutional investors 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.