HomeStreet (NASDAQ:HMST) Receives New Coverage from Analysts at StockNews.com

Posted by Defense World Staff on Apr 15th, 2024

Investment analysts at StockNews.com began coverage on shares of HomeStreet (NASDAQ:HMST – Get Free Report) in a note issued to investors on Monday. The brokerage set a “sell” rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on HMST. Wedbush upped their price target on HomeStreet from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods upped their price target on HomeStreet from $11.00 to $15.50 and gave the company a “market perform” rating in a report on Wednesday, January 17th. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.17.

Get Our Latest Analysis on HMST

HomeStreet Stock Performance

Shares of NASDAQ HMST opened at $12.87 on Monday. The business’s 50-day moving average price is $14.13 and its two-hundred day moving average price is $10.51. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.11 and a quick ratio of 1.10. HomeStreet has a one year low of $4.20 and a one year high of $18.77. The company has a market capitalization of $242.70 million, a P/E ratio of -8.82 and a beta of 1.32.

HomeStreet (NASDAQ:HMST – Get Free Report) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). HomeStreet had a positive return on equity of 1.55% and a negative net margin of 6.23%. The company had revenue of $45.95 million during the quarter, compared to analyst estimates of $49.73 million. Analysts anticipate that HomeStreet will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joanne R. Harrell acquired 1,685 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $14.87 per share, for a total transaction of $25,055.95. Following the acquisition, the director now directly owns 14,907 shares of the company’s stock, valued at $221,667.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HomeStreet

Several hedge funds have recently bought and sold shares of HMST. Renaissance Technologies LLC lifted its position in HomeStreet by 404.8% during the second quarter. Renaissance Technologies LLC now owns 360,900 shares of the financial services provider’s stock worth $2,137,000 after acquiring an additional 289,412 shares during the last quarter. Terrapin Asset Management LLC acquired a new stake in HomeStreet during the third quarter worth approximately $1,926,000. State Street Corp lifted its position in HomeStreet by 28.3% during the first quarter. State Street Corp now owns 1,092,200 shares of the financial services provider’s stock worth $51,748,000 after acquiring an additional 240,973 shares during the last quarter. AQR Capital Management LLC raised its position in shares of HomeStreet by 136.2% in the fourth quarter. AQR Capital Management LLC now owns 372,628 shares of the financial services provider’s stock valued at $10,277,000 after buying an additional 214,850 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of HomeStreet in the second quarter valued at approximately $1,247,000. 74.71% of the stock is currently owned by institutional investors and hedge funds.

About HomeStreet

(Get Free Report)

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.