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

HomeStreet (NASDAQ:HMST) had its price target hoisted by Piper Sandler from $10.00 to $14.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other analysts have also weighed in on the stock. Wedbush raised their price objective on shares of HomeStreet from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Janney Montgomery Scott raised HomeStreet from a “neutral” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.25.

HomeStreet Price Performance

HomeStreet stock opened at $12.01 on Tuesday. The business has a 50 day simple moving average of $9.83 and a 200 day simple moving average of $11.48. The company has a debt-to-equity ratio of 3.09, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $227.24 million, a PE ratio of -1.57 and a beta of 1.45. HomeStreet has a one year low of $8.09 and a one year high of $16.10.

HomeStreet (NASDAQ:HMST) last issued its earnings results on Monday, January 27th. The financial services provider reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05). HomeStreet had a negative net margin of 40.30% and a negative return on equity of 4.23%. On average, sell-side analysts forecast that HomeStreet will post 0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State Street Corp lifted its stake in shares of HomeStreet by 0.3% during the third quarter. State Street Corp now owns 422,031 shares of the financial services provider’s stock valued at $6,651,000 after acquiring an additional 1,083 shares during the period. Price T Rowe Associates Inc. MD lifted its position in HomeStreet by 7.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,222 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 1,136 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of HomeStreet by 66.1% in the 4th quarter. Russell Investments Group Ltd. now owns 3,181 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,266 shares during the last quarter. EMC Capital Management grew its position in shares of HomeStreet by 20.8% during the 4th quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock worth $98,000 after buying an additional 1,484 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of HomeStreet by 27.5% during the fourth quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider’s stock worth $124,000 after buying an additional 2,339 shares during the last quarter. 74.71% of the stock is currently owned by institutional investors.

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.