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

Key Points

• HomeStreet, Inc.'s stock price has recently surpassed its 200-day moving average, trading as high as $13.87, reflecting a significant increase from the average of $11.66.
• Research analysts maintain a Moderate Buy rating for HomeStreet, with an average target price of $14.17, as two analysts rated it with a Buy and two with a Hold.
• The company reported a net margin of -42.54% for the last quarter and missed earnings expectations, reporting ($0.16) per share compared to a consensus estimate of $0.05.

HomeStreet, Inc. (NASDAQ:HMST - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.66 and traded as high as $13.87. HomeStreet shares last traded at $13.76, with a volume of 57,903 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HMST shares. Keefe, Bruyette & Woods lifted their price target on HomeStreet from $12.00 to $13.50 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded shares of HomeStreet from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.17.

HomeStreet Trading Up 0.4%

The firm's 50-day simple moving average is $13.14 and its 200-day simple moving average is $11.75. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 3.14. The firm has a market capitalization of $264.31 million, a PE ratio of -1.89 and a beta of 1.38.

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 for the quarter, compared to analysts' expectations of $49.96 million. Equities analysts expect that HomeStreet, Inc. will post 0.3 earnings per share for the current year.

Institutional Trading of HomeStreet

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in HomeStreet during the second quarter valued at about $26,000. Tower Research Capital LLC TRC boosted its holdings in shares of HomeStreet by 159.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,334 shares of the financial services provider's stock worth $44,000 after purchasing an additional 2,050 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of HomeStreet by 45.7% during the second quarter. Russell Investments Group Ltd. now owns 4,235 shares of the financial services provider's stock worth $55,000 after purchasing an additional 1,329 shares during the period. State of Wyoming purchased a new stake in shares of HomeStreet during the first quarter worth about $68,000. Finally, AlphaQuest LLC boosted its holdings in shares of HomeStreet by 257.2% during the first quarter. AlphaQuest LLC now owns 7,080 shares of the financial services provider's stock worth $83,000 after purchasing an additional 5,098 shares during the period. 74.71% of the stock is currently owned by hedge funds and other 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.