Wedbush Issues Positive Forecast for HomeStreet (NASDAQ:HMST) Stock Price

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

A number of other research firms have also commented on HMST. StockNews.com initiated coverage on shares of HomeStreet in a research note on Sunday, September 22nd. They set a “sell” rating for the company. Janney Montgomery Scott lowered shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

HomeStreet Price Performance

HMST traded up $0.17 on Thursday, reaching $11.16. The company had a trading volume of 29,709 shares, compared to its average volume of 194,600. The company has a fifty day moving average of $12.10 and a 200-day moving average of $12.92. The company has a market capitalization of $210.46 million, a P/E ratio of -8.58 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 one year low of $8.09 and a one year high of $16.10.

Insiders Place Their Bets

In related news, EVP Godfrey B. Evans sold 4,636 shares of HomeStreet stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $11.55, for a total value of $53,545.80. Following the completion of the sale, the executive vice president now directly owns 67,049 shares in the company, valued at $774,415.95. This trade represents a 6.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sidney Craig Tompkins bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $11.49 per share, with a total value of $57,450.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $57,450. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have sold 17,846 shares of company stock worth $203,697 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On HomeStreet

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new position in shares of HomeStreet in the 2nd quarter valued at approximately $122,000. Vanguard Personalized Indexing Management LLC grew its position in shares of HomeStreet by 23.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 2,703 shares during the period. Barclays PLC grew its position in shares of HomeStreet by 276.4% in the 3rd quarter. Barclays PLC now owns 23,937 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 17,578 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of HomeStreet in the 2nd quarter valued at approximately $410,000. Finally, Quest Partners LLC grew its position in shares of HomeStreet by 2,941,900.0% in the 3rd quarter. Quest Partners LLC now owns 29,420 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 29,419 shares during the period. 74.71% of the stock is currently 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.