StockNews.com Begins Coverage on HomeStreet (NASDAQ:HMST)

StockNews.com assumed coverage on shares of HomeStreet (NASDAQ:HMST) in a research note released on Wednesday. The firm issued a sell rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on the company. Janney Montgomery Scott raised HomeStreet from a neutral rating to a buy rating and set a $13.50 price objective on the stock in a report on Thursday, June 20th. Keefe, Bruyette & Woods reissued a market perform rating and set a $13.50 price objective on shares of HomeStreet in a report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $12.00.

HomeStreet Stock Up 3.1 %

HMST stock opened at $11.40 on Wednesday. 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 company has a market capitalization of $215.00 million, a price-to-earnings ratio of -5.35 and a beta of 1.33. HomeStreet has a fifty-two week low of $4.20 and a fifty-two week high of $15.82. The stock has a fifty day moving average of $10.21 and a 200-day moving average of $12.04.

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

Institutional Trading of HomeStreet

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acuitas Investments LLC grew its stake in shares of HomeStreet by 86.0% during the fourth quarter. Acuitas Investments LLC now owns 342,643 shares of the financial services provider’s stock valued at $3,529,000 after buying an additional 158,455 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $6,045,000 after buying an additional 127,969 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in HomeStreet by 47.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 435,099 shares of the financial services provider’s stock worth $3,389,000 after buying an additional 140,357 shares during the period. Neuberger Berman Group LLC purchased a new stake in HomeStreet in the fourth quarter worth about $170,000. Finally, Trexquant Investment LP increased its stake in shares of HomeStreet by 70.8% during the fourth quarter. Trexquant Investment LP now owns 167,420 shares of the financial services provider’s stock valued at $1,724,000 after purchasing an additional 69,384 shares in the last quarter. Hedge funds and other 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.