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

StockNews.com started coverage on shares of HomeStreet (NASDAQ:HMST) in a report issued on Thursday morning. The firm issued a sell rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the stock. Wedbush raised their target price on shares of HomeStreet from $15.00 to $16.00 and gave the company a neutral rating in a report on Tuesday, January 30th. Keefe, Bruyette & Woods dropped their target price on shares of HomeStreet from $15.50 to $13.50 and set a market perform rating for the company in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $11.50.

HomeStreet Stock Performance

Shares of HMST opened at $10.33 on Thursday. The company has a 50-day simple moving average of $13.43 and a 200-day simple moving average of $11.22. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 4.40. HomeStreet has a 52-week low of $4.20 and a 52-week high of $15.82.

Insider Transactions at HomeStreet

In other news, Director Joanne R. Harrell purchased 1,685 shares of the stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $14.87 per share, for a total transaction of $25,055.95. Following the completion of the acquisition, the director now directly owns 14,907 shares in the company, valued at approximately $221,667.09. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On HomeStreet

A number of hedge funds and other institutional investors have recently modified their holdings of HMST. Terrapin Asset Management LLC acquired a new stake in shares of HomeStreet in the third quarter worth approximately $1,926,000. Hennessy Advisors Inc. acquired a new stake in shares of HomeStreet in the fourth quarter worth approximately $2,112,000. Assenagon Asset Management S.A. boosted its position in shares of HomeStreet by 1,460.5% in the third quarter. Assenagon Asset Management S.A. now owns 184,013 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 172,221 shares during the last quarter. Acuitas Investments LLC boosted its position in shares of 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 acquiring an additional 158,455 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of 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 acquiring an additional 140,357 shares during the last quarter. 74.71% of the stock is currently owned by hedge funds and other 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.