Acuitas Investments LLC Boosts Stock Position in HomeStreet, Inc. (NASDAQ:HMST)

Acuitas Investments LLC grew its stake in HomeStreet, Inc. (NASDAQ:HMST) by 86.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 342,643 shares of the financial services provider’s stock after purchasing an additional 158,455 shares during the period. HomeStreet makes up about 1.8% of Acuitas Investments LLC’s holdings, making the stock its 11th largest holding. Acuitas Investments LLC’s holdings in HomeStreet were worth $3,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in HMST. Terrapin Asset Management LLC purchased a new stake in shares of HomeStreet in the third quarter valued at approximately $1,926,000. Assenagon Asset Management S.A. grew its position in HomeStreet by 1,460.5% in the third quarter. Assenagon Asset Management S.A. now owns 184,013 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 172,221 shares during the period. Jacobs Levy Equity Management Inc. grew its position in HomeStreet by 47.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 435,099 shares of the financial services provider’s stock worth $3,389,000 after acquiring an additional 140,357 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in HomeStreet in the third quarter worth approximately $478,000. Finally, Campbell & CO Investment Adviser LLC grew its position in HomeStreet by 135.0% in the third quarter. Campbell & CO Investment Adviser LLC now owns 32,827 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 18,859 shares during the period. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HMST has been the subject of several analyst reports. Wedbush increased their price objective on HomeStreet from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods increased their price objective on HomeStreet from $11.00 to $15.50 and gave the stock a “market perform” rating in a research report on Wednesday, January 17th. Finally, StockNews.com initiated coverage on HomeStreet in a research report on Tuesday. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.17.

HomeStreet Trading Down 5.4 %

NASDAQ:HMST traded down $0.70 during trading hours on Wednesday, reaching $12.27. 174,035 shares of the stock were exchanged, compared to its average volume of 290,142. The company has a quick ratio of 1.10, a current ratio of 1.11 and a debt-to-equity ratio of 3.66. The business has a 50-day moving average of $14.09 and a two-hundred day moving average of $10.76. HomeStreet, Inc. has a twelve month low of $4.20 and a twelve month high of $15.82. The company has a market capitalization of $231.39 million, a price-to-earnings ratio of -8.40 and a beta of 1.32.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.15). HomeStreet had a positive return on equity of 1.55% and a negative net margin of 6.23%. The firm had revenue of $45.95 million for the quarter, compared to analyst estimates of $49.73 million. On average, equities analysts predict that HomeStreet, Inc. will post 0.19 EPS for the current year.

Insiders Place Their Bets

In related news, Director Joanne R. Harrell acquired 1,685 shares of HomeStreet stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $14.87 per share, for a total transaction of $25,055.95. Following the completion of the purchase, the director now owns 14,907 shares in the company, valued at $221,667.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.60% of the stock is owned by insiders.

HomeStreet 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.