HomeStreet (NASDAQ:HMST) Downgraded by Janney Montgomery Scott to Hold

Janney Montgomery Scott downgraded shares of HomeStreet (NASDAQ:HMST - Free Report) from a strong-buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

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

HomeStreet Stock Performance

Shares of NASDAQ HMST traded up $0.14 during trading on Wednesday, reaching $9.20. 236,231 shares of the stock traded hands, compared to its average volume of 195,587. 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 stock has a market capitalization of $173.51 million, a P/E ratio of -7.40 and a beta of 1.37. HomeStreet has a 52-week low of $4.89 and a 52-week high of $16.10. The company has a 50-day moving average of $14.97 and a 200-day moving average of $12.83.

HomeStreet (NASDAQ:HMST - Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.01. HomeStreet had a negative return on equity of 3.42% and a negative net margin of 5.44%. The company had revenue of $114.35 million during the quarter, compared to analysts' expectations of $43.33 million. Analysts forecast that HomeStreet will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at HomeStreet

In other HomeStreet news, Director Paulette Lemon sold 2,401 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $15.59, for a total transaction of $37,431.59. Following the sale, the director now owns 16,923 shares in the company, valued at $263,829.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of HomeStreet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Endeavour Capital Advisors Inc. lifted its position 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 during the period. Kennedy Capital Management LLC bought a new position in HomeStreet in the first quarter worth about $3,720,000. Mendon Capital Advisors Corp lifted 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 worth $4,138,000 after buying an additional 63,000 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in HomeStreet during the 2nd quarter valued at approximately $410,000. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 acquiring an additional 28,874 shares in the last quarter. 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.