HomeStreet (NASDAQ:HMST) Raised to “Outperform” at Wedbush

HomeStreet (NASDAQ:HMST) was upgraded by analysts at Wedbush from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage currently has a $12.00 price objective on the financial services provider’s stock. Wedbush’s target price indicates a potential upside of 8.30% from the company’s previous close.

HMST has been the subject of a number of other reports. Janney Montgomery Scott lowered shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price objective on shares of HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Finally, StockNews.com began coverage on shares of HomeStreet in a report on Sunday, September 22nd. They issued a “sell” rating for the company.

HomeStreet Price Performance

Shares of HomeStreet stock opened at $11.08 on Tuesday. HomeStreet has a 1 year low of $4.90 and a 1 year high of $16.10. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 4.06. The company has a 50 day simple moving average of $14.40 and a two-hundred day simple moving average of $12.73.

Insider Transactions at HomeStreet

In other news, Director Paulette Lemon sold 2,401 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $15.59, for a total value of $37,431.59. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

Institutional Trading of HomeStreet

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Endeavour Capital Advisors Inc. boosted its stake in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 purchasing an additional 28,874 shares in the last quarter. Mendon Capital Advisors Corp boosted its stake in HomeStreet by 21.0% in the 2nd quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock worth $4,138,000 after purchasing an additional 63,000 shares in the last quarter. Kennedy Capital Management LLC bought a new position in HomeStreet in the 1st quarter worth about $3,720,000. Finally, Bank of New York Mellon Corp boosted its stake in HomeStreet by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock worth $809,000 after purchasing an additional 3,113 shares in the last quarter. 74.71% of the stock is owned by hedge funds and other institutional investors.

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.