HomeStreet (NASDAQ:HMST) Upgraded to "Outperform" at Wedbush

HomeStreet (NASDAQ:HMST - Get Free Report) was upgraded by equities research analysts at Wedbush from a "neutral" rating to an "outperform" rating in a report released on Tuesday, MarketBeat Ratings reports. The firm presently has a $12.00 target price on the financial services provider's stock. Wedbush's price objective would suggest a potential upside of 21.95% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Janney Montgomery Scott lowered shares of HomeStreet from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 30th. StockNews.com initiated coverage on shares of HomeStreet in a report on Sunday, September 22nd. They set a "sell" rating for the company. Finally, Keefe, Bruyette & Woods upped their price target 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.

HomeStreet Stock Up 8.3 %

HMST stock traded up $0.75 during trading on Tuesday, reaching $9.84. The stock had a trading volume of 237,055 shares, compared to its average volume of 195,706. The firm has a fifty day moving average price of $14.60 and a 200 day moving average price of $12.76. HomeStreet has a 1-year low of $4.90 and a 1-year high of $16.10. The company has a market capitalization of $185.56 million, a P/E ratio of -7.48 and a beta of 1.42. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 4.06.

Insiders Place Their Bets

In related news, Director Paulette Lemon sold 2,401 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $15.59, for a total value of $37,431.59. Following the transaction, the director now directly owns 16,923 shares of the company's stock, valued at $263,829.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.60% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HMST. Squarepoint Ops LLC acquired a new stake in shares of HomeStreet in the second quarter valued at approximately $122,000. EMC Capital Management lifted 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 buying an additional 1,201 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in HomeStreet by 23.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider's stock valued at $164,000 after buying an additional 2,703 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in HomeStreet by 10.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider's stock valued at $218,000 after buying an additional 1,354 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in HomeStreet during the 2nd quarter worth approximately $410,000. Institutional investors and hedge funds 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.