HomeStreet (NASDAQ:HMST) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com started coverage on shares of HomeStreet (NASDAQ:HMST - Get Free Report) in a report issued on Sunday. The brokerage set a "sell" rating on the financial services provider's stock.

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A number of other brokerages have also weighed in on HMST. Janney Montgomery Scott raised shares of HomeStreet from a "neutral" rating to a "buy" rating and set a $13.50 price target for the company in a research note on Thursday, June 20th. Keefe, Bruyette & Woods boosted their target price on shares of HomeStreet from $13.50 to $14.50 and gave the stock a "market perform" rating in a research report on Tuesday, July 30th. 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 stock. According to MarketBeat.com, HomeStreet has an average rating of "Hold" and an average price target of $12.25.

Check Out Our Latest Analysis on HomeStreet

HomeStreet Trading Down 2.9 %

NASDAQ HMST traded down $0.45 during mid-day trading on Friday, reaching $14.85. 480,501 shares of the stock were exchanged, compared to its average volume of 206,960. HomeStreet has a 1-year low of $4.20 and a 1-year high of $16.10. The business's fifty day simple moving average is $14.65 and its 200 day simple moving average is $12.79. The stock has a market capitalization of $280.04 million, a PE ratio of -6.97 and a beta of 1.37. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.14 and a current ratio of 1.14.

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HomeStreet (NASDAQ:HMST - Get Free Report) last announced its 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 1.87% and a negative net margin of 3.30%. The company had revenue of $114.35 million during the quarter, compared to the consensus estimate of $43.33 million. On average, research analysts anticipate that HomeStreet will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Paulette Lemon sold 2,401 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $15.59, for a total transaction of $37,431.59. Following the completion of the sale, the director now owns 16,923 shares in the company, valued at approximately $263,829.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On HomeStreet

Hedge funds have recently added to or reduced their stakes in the stock. Endeavour Capital Advisors Inc. boosted its stake 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 acquiring an additional 375,581 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in shares of HomeStreet in the first quarter valued at about $3,720,000. Hennessy Advisors Inc. acquired a new position in HomeStreet in the fourth quarter valued at about $2,112,000. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $6,045,000 after purchasing an additional 127,969 shares in the last quarter. Finally, Trexquant Investment LP increased its position in HomeStreet by 70.8% during the 4th quarter. Trexquant Investment LP now owns 167,420 shares of the financial services provider's stock worth $1,724,000 after purchasing an additional 69,384 shares in the last quarter. Institutional investors own 74.71% of the company's stock.

About HomeStreet

(Get Free Report)

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.

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