Wells Fargo & Company MN raised its holdings in HomeStreet Inc (NASDAQ:HMST) by 71.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 316,659 shares of the financial services provider’s stock after buying an additional 131,866 shares during the quarter. Wells Fargo & Company MN owned about 1.17% of HomeStreet worth $9,385,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Investment Counselors of Maryland LLC increased its holdings in HomeStreet by 1.0% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 792,269 shares of the financial services provider’s stock worth $23,483,000 after buying an additional 8,125 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of HomeStreet by 18.0% during the 1st quarter. Kennedy Capital Management Inc. now owns 374,816 shares of the financial services provider’s stock valued at $9,876,000 after purchasing an additional 57,117 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of HomeStreet by 167.6% during the 1st quarter. Acadian Asset Management LLC now owns 110,861 shares of the financial services provider’s stock valued at $2,922,000 after purchasing an additional 69,426 shares during the last quarter. Marshall Wace LLP increased its position in shares of HomeStreet by 2,910.8% during the 1st quarter. Marshall Wace LLP now owns 91,499 shares of the financial services provider’s stock valued at $2,411,000 after purchasing an additional 88,460 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of HomeStreet by 0.8% during the 1st quarter. Rhumbline Advisers now owns 77,125 shares of the financial services provider’s stock valued at $2,032,000 after purchasing an additional 646 shares during the last quarter. 89.12% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Godfrey B. Evans purchased 1,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average cost of $28.48 per share, for a total transaction of $28,480.00. Following the acquisition, the executive vice president now owns 46,432 shares in the company, valued at $1,322,383.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.64% of the company’s stock.
HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Monday, July 22nd. The financial services provider reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.41). The company had revenue of $69.02 million for the quarter, compared to analysts’ expectations of $65.59 million. HomeStreet had a net margin of 4.74% and a return on equity of 4.74%. During the same period in the prior year, the company earned $0.46 earnings per share. Research analysts forecast that HomeStreet Inc will post 1.21 EPS for the current fiscal year.
Several research firms have recently weighed in on HMST. BidaskClub downgraded HomeStreet from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. TheStreet downgraded HomeStreet from a “b” rating to a “c+” rating in a research report on Monday, August 12th. Zacks Investment Research cut HomeStreet from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, DA Davidson upgraded HomeStreet from an “underperform” rating to a “neutral” rating and set a $27.00 target price for the company in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.50.
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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