HomeStreet (NASDAQ:HMST) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• HomeStreet, Inc. (NASDAQ:HMST) crossed above its 200-day moving average of $11.49, trading as high as $12.96, indicating positive momentum in the stock market.
• Analysts have upgraded HomeStreet from a "sell" to a "hold" rating, with new price targets set by Keefe, Bruyette & Woods at $13.50 and a consensus price target of $14.17.
• The company reported a loss of $0.16 earnings per share for the last quarter, missing expectations, and has a negative net margin of 42.54%.

HomeStreet, Inc. (NASDAQ:HMST - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.49 and traded as high as $12.96. HomeStreet shares last traded at $12.91, with a volume of 158,401 shares.

Analysts Set New Price Targets

HMST has been the topic of a number of research analyst reports. Wall Street Zen raised shares of HomeStreet from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods increased their target price on shares of HomeStreet from $12.00 to $13.50 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $14.17.

HomeStreet Stock Up 2.0%

The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.02 and a current ratio of 1.03. The firm has a market capitalization of $244.26 million, a P/E ratio of -1.74 and a beta of 1.38. The stock has a 50 day moving average of $12.93 and a 200-day moving average of $11.49.

HomeStreet (NASDAQ:HMST - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The financial services provider reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.21). HomeStreet had a negative net margin of 42.54% and a negative return on equity of 3.92%. The business had revenue of $48.97 million during the quarter, compared to the consensus estimate of $49.96 million. Research analysts predict that HomeStreet, Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of HomeStreet by 2.0% during the second quarter. Geode Capital Management LLC now owns 433,832 shares of the financial services provider's stock worth $5,671,000 after acquiring an additional 8,471 shares in the last quarter. JCSD Capital LLC purchased a new stake in HomeStreet during the 2nd quarter worth about $210,000. AlphaQuest LLC boosted its stake in HomeStreet by 37.6% in the 2nd quarter. AlphaQuest LLC now owns 9,739 shares of the financial services provider's stock worth $127,000 after purchasing an additional 2,659 shares during the period. Goldman Sachs Group Inc. boosted its stake in HomeStreet by 12.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 297,001 shares of the financial services provider's stock worth $3,487,000 after purchasing an additional 32,912 shares during the period. Finally, Strs Ohio purchased a new position in HomeStreet during the 1st quarter valued at about $553,000. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

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