HomeStreet (NASDAQ:HMST) Price Target Raised to $14.50

HomeStreet (NASDAQ:HMST) had its price objective raised by Keefe, Bruyette & Woods from $13.50 to $14.50 in a research note released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on HMST. StockNews.com assumed coverage on shares of HomeStreet in a report on Sunday, July 28th. They issued a sell rating for the company. Janney Montgomery Scott raised shares of HomeStreet from a neutral rating to a buy rating and set a $13.50 price target on the stock in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, HomeStreet currently has a consensus rating of Hold and an average target price of $12.25.

HomeStreet Price Performance

HomeStreet stock opened at $14.20 on Tuesday. HomeStreet has a 1 year low of $4.20 and a 1 year high of $15.82. The firm has a 50 day moving average price of $11.06 and a 200 day moving average price of $12.52. The company has a market cap of $267.81 million, a price-to-earnings ratio of -6.67 and a beta of 1.38. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.17 and a current ratio of 1.14.

HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. HomeStreet had a negative net margin of 3.30% and a negative return on equity of 1.87%. The firm had revenue of $114.35 million during the quarter, compared to the consensus estimate of $43.33 million. Sell-side analysts predict that HomeStreet will post -0.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HMST. Kennedy Capital Management LLC acquired a new position in shares of HomeStreet during the first quarter worth $3,720,000. Hennessy Advisors Inc. acquired a new position in shares of HomeStreet during the fourth quarter worth $2,112,000. Acuitas Investments LLC lifted its position in shares of HomeStreet by 86.0% during 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of HomeStreet by 27.9% during 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 in the last quarter. Finally, Trexquant Investment LP lifted its position in shares of HomeStreet by 70.8% during 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 in the last quarter. 74.71% of the stock is owned by institutional investors and hedge funds.

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.