HomeStreet (NASDAQ:HMST) Upgraded to “Buy” at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of HomeStreet (NASDAQ:HMST) from a neutral rating to a buy rating in a report released on Thursday, MarketBeat reports. They currently have $13.50 price target on the financial services provider’s stock.

A number of other brokerages also recently weighed in on HMST. Keefe, Bruyette & Woods reissued a market perform rating and issued a $13.50 price target on shares of HomeStreet in a report on Tuesday, June 18th. StockNews.com assumed coverage on shares of HomeStreet in a research note on Tuesday, June 18th. They issued a sell rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, HomeStreet presently has an average rating of Hold and an average price target of $12.00.

HomeStreet Stock Performance

Shares of HMST opened at $10.96 on Thursday. HomeStreet has a 52 week low of $4.20 and a 52 week high of $15.82. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50 day moving average price of $10.35 and a two-hundred day moving average price of $11.98. The firm has a market capitalization of $206.71 million, a P/E ratio of -5.15 and a beta of 1.33.

HomeStreet (NASDAQ:HMST) last released its earnings results on Tuesday, April 30th. The financial services provider reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.23). The business had revenue of $41.61 million during the quarter, compared to the consensus estimate of $48.07 million. HomeStreet had a negative net margin of 8.97% and a negative return on equity of 0.43%. Equities analysts forecast that HomeStreet will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of HomeStreet

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in HomeStreet by 167.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,284 shares of the financial services provider’s stock valued at $26,000 after buying an additional 2,055 shares during the period. CWM LLC grew its position in HomeStreet by 2,222.2% during the 4th quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 3,400 shares during the last quarter. AJOVista LLC purchased a new position in HomeStreet in the 4th quarter worth approximately $38,000. Tower Research Capital LLC TRC raised its holdings in HomeStreet by 132.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 2,503 shares in the last quarter. Finally, EMC Capital Management boosted its stake in shares of HomeStreet by 16.2% during the 1st quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,201 shares in the last quarter. 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.