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

StockNews.com assumed coverage on shares of HomeStreet (NASDAQ:HMST) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on HMST. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $13.50 target price on shares of HomeStreet in a research note on Tuesday, June 18th. Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective for the company in a research note on Thursday, June 20th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.00.

HomeStreet Trading Up 2.0 %

Shares of NASDAQ:HMST opened at $11.06 on Wednesday. The firm has a fifty day moving average of $10.24 and a two-hundred day moving average of $12.01. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 4.40. HomeStreet has a 12-month low of $4.20 and a 12-month high of $15.82. The firm has a market capitalization of $208.59 million, a P/E ratio of -5.19 and a beta of 1.33.

HomeStreet (NASDAQ:HMST) last issued its earnings results on Tuesday, April 30th. The financial services provider reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.23). HomeStreet had a negative net margin of 8.97% and a negative return on equity of 0.43%. The firm had revenue of $41.61 million during the quarter, compared to analysts’ expectations of $48.07 million. On average, equities analysts expect that HomeStreet will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On HomeStreet

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in HomeStreet by 167.2% in the 3rd 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 last quarter. CWM LLC increased its position in HomeStreet by 2,222.2% during the fourth 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 period. AJOVista LLC acquired a new position in HomeStreet during the 4th quarter valued at $38,000. Tower Research Capital LLC TRC boosted 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 valued at $45,000 after purchasing an additional 2,503 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in HomeStreet in the 4th quarter worth $129,000. 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.