HomeStreet (NASDAQ:HMST) Stock Price Expected to Rise, Wedbush Analyst Says

HomeStreet (NASDAQ:HMST) had its target price upped by Wedbush from $12.00 to $15.00 in a research note released on Thursday morning,Benzinga reports. Wedbush currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. Janney Montgomery Scott lowered HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. StockNews.com assumed coverage on HomeStreet in a research note on Sunday, September 22nd. They issued a “sell” rating for the company.

HomeStreet Stock Down 0.8 %

Shares of NASDAQ HMST opened at $10.90 on Thursday. The stock has a market cap of $205.55 million, a PE ratio of -8.38 and a beta of 1.49. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 3.94. HomeStreet has a 12-month low of $8.09 and a 12-month high of $16.10. The company has a 50-day moving average of $12.01 and a 200 day moving average of $12.93.

Insider Transactions at HomeStreet

In related news, EVP David L. Parr sold 5,210 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $11.53, for a total value of $60,071.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sidney Craig Tompkins bought 5,000 shares of HomeStreet stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $57,450. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 17,846 shares of company stock worth $203,697 in the last 90 days. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Philadelphia Financial Management of San Francisco LLC raised its stake in shares of HomeStreet by 4.6% in the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,562,434 shares of the financial services provider’s stock valued at $24,624,000 after acquiring an additional 68,855 shares during the period. Endeavour Capital Advisors Inc. raised its position in HomeStreet by 113.6% in the second quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock valued at $8,051,000 after purchasing an additional 375,581 shares during the period. Wellington Management Group LLP raised its position in HomeStreet by 494.0% in the third quarter. Wellington Management Group LLP now owns 670,926 shares of the financial services provider’s stock valued at $10,574,000 after purchasing an additional 557,977 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of HomeStreet by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after buying an additional 28,874 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of HomeStreet by 1.9% in the third quarter. Geode Capital Management LLC now owns 426,130 shares of the financial services provider’s stock valued at $6,717,000 after buying an additional 7,898 shares in the last quarter. Institutional investors and hedge funds 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.