Janney Montgomery Scott Downgrades HomeStreet (NASDAQ:HMST) to Hold

Janney Montgomery Scott downgraded shares of HomeStreet (NASDAQ:HMST) from a strong-buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

HMST has been the topic of several other reports. StockNews.com assumed coverage on shares of HomeStreet in a report on Sunday, September 22nd. They set a “sell” rating on the stock. Keefe, Bruyette & Woods lifted their target price on shares of HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th.

HomeStreet Trading Up 0.2 %

Shares of HomeStreet stock opened at $9.07 on Wednesday. The firm has a market capitalization of $171.06 million, a PE ratio of -6.98 and a beta of 1.37. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 4.06. The firm’s 50 day moving average is $14.85 and its 200 day moving average is $12.80. HomeStreet has a 1 year low of $4.89 and a 1 year high of $16.10.

Insider Buying and Selling

In related news, Director Paulette Lemon sold 2,401 shares of HomeStreet stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $15.59, for a total transaction of $37,431.59. Following the sale, the director now directly owns 16,923 shares in the company, valued at $263,829.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of HomeStreet by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after purchasing an additional 28,874 shares during the period. Mendon Capital Advisors Corp lifted its position in shares of HomeStreet by 21.0% in the 2nd quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock worth $4,138,000 after purchasing an additional 63,000 shares during the period. Vanguard Personalized Indexing Management LLC lifted 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 worth $164,000 after purchasing an additional 2,703 shares during the period. Bank of New York Mellon Corp lifted its position in shares of HomeStreet by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock worth $809,000 after purchasing an additional 3,113 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of HomeStreet by 10.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 1,354 shares during the period. Institutional investors and hedge funds own 74.71% of the company’s stock.

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.