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

Stock analysts at StockNews.com began coverage on shares of HomeStreet (NASDAQ:HMST) in a research report issued on Tuesday. The firm set a “sell” rating on the financial services provider’s stock.

HMST has been the subject of several other reports. Janney Montgomery Scott raised HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective for the company in a research report on Thursday, June 20th. Keefe, Bruyette & Woods increased their price objective on HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.25.

HomeStreet Stock Up 3.5 %

Shares of HomeStreet stock opened at $15.06 on Tuesday. The stock has a market capitalization of $284.00 million, a P/E ratio of -7.07 and a beta of 1.38. The company has a quick ratio of 1.17, a current ratio of 1.14 and a debt-to-equity ratio of 4.06. The stock has a 50 day moving average price of $12.11 and a two-hundred day moving average price of $12.49. HomeStreet has a 12-month low of $4.20 and a 12-month high of $15.82.

HomeStreet (NASDAQ:HMST) last announced its earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $114.35 million during the quarter, compared to analysts’ expectations of $43.33 million. Equities analysts expect that HomeStreet will post -0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HMST. Kennedy Capital Management LLC bought a new position in HomeStreet in the first quarter worth $3,720,000. Hennessy Advisors Inc. bought a new position in HomeStreet in the fourth quarter worth $2,112,000. Acuitas Investments LLC lifted its position in HomeStreet by 86.0% in the fourth quarter. Acuitas Investments LLC now owns 342,643 shares of the financial services provider’s stock worth $3,529,000 after purchasing an additional 158,455 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 127,969 shares during the period. Finally, Trexquant Investment LP lifted its position in HomeStreet by 70.8% in the fourth 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 during the period. 74.71% of the stock is owned by institutional investors.

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.