Martingale Asset Management L P Lowers Holdings in HomeStreet Inc (NASDAQ:HMST)

Martingale Asset Management L P cut its stake in HomeStreet Inc (NASDAQ:HMST) by 82.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,100 shares of the financial services provider’s stock after selling 120,157 shares during the quarter. Martingale Asset Management L P owned about 0.10% of HomeStreet worth $688,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in HomeStreet by 1.3% in the third quarter. Vanguard Group Inc. now owns 1,562,636 shares of the financial services provider’s stock valued at $41,410,000 after purchasing an additional 20,345 shares in the last quarter. Bank of Montreal Can grew its position in shares of HomeStreet by 110.5% in the 4th quarter. Bank of Montreal Can now owns 2,261 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 1,187 shares during the period. Arizona State Retirement System grew its position in shares of HomeStreet by 6.2% in the 4th quarter. Arizona State Retirement System now owns 41,567 shares of the financial services provider’s stock valued at $882,000 after acquiring an additional 2,420 shares during the period. Rhumbline Advisers grew its position in shares of HomeStreet by 20.2% in the 4th quarter. Rhumbline Advisers now owns 76,479 shares of the financial services provider’s stock valued at $1,624,000 after acquiring an additional 12,851 shares during the period. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of HomeStreet in the 4th quarter valued at about $218,000. Institutional investors own 81.63% of the company’s stock.

NASDAQ HMST traded up $0.56 during trading on Friday, hitting $29.64. 219,105 shares of the company’s stock traded hands, compared to its average volume of 175,824. The stock has a market capitalization of $771.29 million, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. HomeStreet Inc has a 12-month low of $20.50 and a 12-month high of $31.96. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.97. The business’s 50 day simple moving average is $29.29.

HomeStreet (NASDAQ:HMST) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.05). HomeStreet had a return on equity of 5.87% and a net margin of 7.02%. The company had revenue of $55.65 million during the quarter, compared to analysts’ expectations of $102.33 million. During the same period in the prior year, the firm earned $0.21 EPS. On average, research analysts expect that HomeStreet Inc will post 1.73 earnings per share for the current fiscal year.

In related news, Director Sandra A. Cavanaugh bought 5,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was bought at an average price of $28.67 per share, with a total value of $143,350.00. Following the completion of the purchase, the director now directly owns 6,107 shares in the company, valued at approximately $175,087.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark R. Ruh bought 2,000 shares of the stock in a transaction on Friday, May 10th. The shares were bought at an average cost of $28.37 per share, with a total value of $56,740.00. Following the purchase, the chief financial officer now owns 6,617 shares of the company’s stock, valued at $187,724.29. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 9,000 shares of company stock valued at $261,590. 1.64% of the stock is owned by company insiders.

A number of analysts have recently issued reports on HMST shares. Zacks Investment Research cut shares of HomeStreet from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. BidaskClub upgraded shares of HomeStreet from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 18th. ValuEngine upgraded shares of HomeStreet from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. FIG Partners downgraded shares of HomeStreet from an “outperform” rating to a “market-perform” rating in a research report on Wednesday, May 1st. Finally, TheStreet downgraded shares of HomeStreet from a “b” rating to a “c+” rating in a research report on Tuesday, April 30th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. HomeStreet currently has a consensus rating of “Buy” and an average price target of $32.40.

HomeStreet Company Profile

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides commercial and consumer banking services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.

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Institutional Ownership by Quarter for HomeStreet (NASDAQ:HMST)

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