Price Action Report: Can HomeStreet Inc’s Tomorrow be Different? The Stock Just Broke Its High

Price Action Report: Can HomeStreet Inc's Tomorrow be Different? The Stock Just Broke Its High

The stock of HomeStreet Inc (NASDAQ:HMST) hit a new 52-week high and has $34.29 target or 8.00% above today’s $31.75 share price. The 8 months bullish chart indicates low risk for the $863.58 million company. The 1-year high was reported on Nov, 22 by If the $34.29 price target is reached, the company will be worth $69.09M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 175,335 shares traded hands. HomeStreet Inc (NASDAQ:HMST) has risen 46.73% since April 20, 2016 and is uptrending. It has outperformed by 42.18% the S&P500.

HomeStreet Inc (NASDAQ:HMST) Ratings Coverage

Out of 5 analysts covering HomeStreet (NASDAQ:HMST), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. HomeStreet has been the topic of 8 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, October 1 by Wood. FBR Capital maintained HomeStreet Inc (NASDAQ:HMST) rating on Monday, July 27. FBR Capital has “Outperform” rating and $32 price target. The stock of HomeStreet Inc (NASDAQ:HMST) has “Hold” rating given on Monday, November 14 by Sandler O’Neill. The rating was maintained by FBR Capital on Tuesday, October 25 with “Outperform”. The stock of HomeStreet Inc (NASDAQ:HMST) earned “Neutral” rating by Macquarie Research on Wednesday, October 28.

According to Zacks Investment Research, “HomeStreet, Inc. is a diversified financial services company. The Company is engaged in real estate lending, including mortgage banking activities and retail and business banking operations and serves consumers and businesses in the Pacific Northwest and Hawaii. It offers deposit and investment products and cash management services and single family loans and commercial loans. HomeStreet’s primary subsidiaries are HomeStreet Bank and HomeStreet Capital Corporation. It operates in Washington, Oregon, Idaho and Hawaii. HomeStreet, Inc. is headquartered in Seattle, Washington.”

Insitutional Activity: The institutional sentiment increased to 1.86 in 2016 Q2. Its up 0.38, from 1.48 in 2016Q1. The ratio increased, as 15 funds sold all HomeStreet Inc shares owned while 27 reduced positions. 23 funds bought stakes while 39 increased positions. They now own 17.51 million shares or 1.13% more from 17.32 million shares in 2016Q1.
Systematic Fincl Lp has 0.02% invested in the company for 69,820 shares. State Board Of Administration Of Florida Retirement Systems last reported 0% of its portfolio in the stock. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 755 shares. American Group accumulated 0% or 13,606 shares. Spark Inv Ltd Liability accumulated 55,000 shares or 0.1% of the stock. Moreover, Fj Management Limited Liability Corp has 0.17% invested in HomeStreet Inc (NASDAQ:HMST) for 42,000 shares. The Missouri-based Kennedy Mgmt has invested 0.18% in HomeStreet Inc (NASDAQ:HMST). The Pennsylvania-based Vanguard Grp has invested 0% in HomeStreet Inc (NASDAQ:HMST). Blackrock Grp, a United Kingdom-based fund reported 13,659 shares. Moreover, Buckhead Capital Limited Liability Com has 0.31% invested in HomeStreet Inc (NASDAQ:HMST) for 85,850 shares. Dreman Value L L C, a Florida-based fund reported 112 shares. Employees Retirement Of Texas holds 0.01% or 49,000 shares in its portfolio. Prudential Financial accumulated 0% or 49,900 shares. Rhumbline Advisers has 0% invested in the company for 28,860 shares. Moreover, Barclays Public Ltd Com has 0% invested in HomeStreet Inc (NASDAQ:HMST) for 644 shares.

Insider Transactions: Since June 1, 2016, the stock had 1 buy, and 4 selling transactions for $110,970 net activity. TAYLOR PAMELA J sold 100 shares worth $1,973. 5,334 HomeStreet Inc (NASDAQ:HMST) shares with value of $108,923 were sold by BENNION RICHARD W H. Shares for $4,746 were sold by ISEMAN JAY C. 302 HomeStreet Inc (NASDAQ:HMST) shares with value of $6,946 were bought by EDERER DAVID A.

Another recent and important HomeStreet Inc (NASDAQ:HMST) news was published by which published an article titled: “HomeStreet, Inc. Completes Acquisition of Orange County Business Bank” on February 01, 2016.

HMST Company Profile

HomeStreet, Inc., incorporated on August 18, 1921, is a financial services firm serving clients primarily in the western United States, including Hawaii. The Firm is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. The Company’s operating divisions include Commercial and Consumer Banking, and Mortgage Banking. The Company’s subsidiaries include HomeStreet Bank (the Bank) and HomeStreet Capital Corporation. The Bank is a savings bank that provides mortgage and commercial loans, deposit services and products, non-deposit investment products, private banking and cash management services. Doing business as HomeStreet Insurance Agency, the Company provides insurance services and products for clients and businesses.

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