Acadian Asset Management LLC lessened its stake in HomeStreet, Inc. (NASDAQ:HMST) by 44.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,747 shares of the financial services provider’s stock after selling 145,399 shares during the quarter. Acadian Asset Management LLC owned approximately 0.79% of HomeStreet worth $4,604,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. acquired a new stake in shares of HomeStreet in the 1st quarter valued at approximately $63,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of HomeStreet by 71.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,411 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,842 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of HomeStreet by 305.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 5,686 shares of the financial services provider’s stock valued at $146,000 after buying an additional 4,285 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of HomeStreet by 402.0% in the 1st quarter. Royal Bank of Canada now owns 9,323 shares of the financial services provider’s stock valued at $206,000 after buying an additional 7,466 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new stake in shares of HomeStreet in the 3rd quarter valued at approximately $255,000. 85.29% of the stock is owned by institutional investors.
HMST stock opened at $33.72 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.94 and a quick ratio of 0.87. The stock has a market capitalization of $734.69 million, a price-to-earnings ratio of 12.44 and a beta of 1.11. The business’s fifty day moving average price is $31.01 and its two-hundred day moving average price is $26.58. HomeStreet, Inc. has a fifty-two week low of $18.44 and a fifty-two week high of $35.44.
HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Saturday, October 31st. The financial services provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.32. HomeStreet had a return on equity of 10.39% and a net margin of 16.89%. Research analysts expect that HomeStreet, Inc. will post 3.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Friday, November 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 5th. HomeStreet’s payout ratio is currently 35.29%.
In related news, Director Jeffrey D. Green purchased 1,788 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were bought at an average price of $33.00 per share, for a total transaction of $59,004.00. Following the completion of the transaction, the director now owns 780 shares of the company’s stock, valued at $25,740. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nancy D. Pellegrino purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average price of $27.71 per share, for a total transaction of $27,710.00. Following the transaction, the director now directly owns 1,811 shares of the company’s stock, valued at approximately $50,182.81. The disclosure for this purchase can be found here. Insiders purchased 39,007 shares of company stock worth $1,123,251 in the last 90 days. 3.62% of the stock is owned by company insiders.
HMST has been the subject of several research reports. B. Riley reaffirmed a “buy” rating and set a $36.00 price target (up previously from $34.00) on shares of HomeStreet in a report on Wednesday, October 28th. TheStreet raised HomeStreet from a “c+” rating to a “b-” rating in a report on Friday, August 14th. BidaskClub raised HomeStreet from a “sell” rating to a “hold” rating in a report on Friday, October 23rd. ValuEngine downgraded HomeStreet from a “hold” rating to a “sell” rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods raised HomeStreet from a “market perform” rating to an “outperform” rating and raised their price target for the company from $33.00 to $39.00 in a report on Thursday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. HomeStreet has an average rating of “Buy” and a consensus price target of $33.33.
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 Western United States. The company offers deposit and insurance products, private banking and cash management services, and other banking services.
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