HomeStreet, Inc. (NASDAQ:HMST) Stake Cut by LSV Asset Management

LSV Asset Management decreased its holdings in shares of HomeStreet, Inc. (NASDAQ:HMST) by 24.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 582,587 shares of the financial services provider’s stock after selling 184,221 shares during the period. LSV Asset Management owned about 3.10% of HomeStreet worth $6,001,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Terrapin Asset Management LLC acquired a new stake in HomeStreet during the third quarter worth about $1,926,000. Acuitas Investments LLC bought a new stake in shares of HomeStreet in the 3rd quarter worth approximately $1,435,000. Assenagon Asset Management S.A. boosted its position in HomeStreet by 1,460.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 184,013 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 172,221 shares during the period. Jacobs Levy Equity Management Inc. increased 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 buying an additional 140,357 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in HomeStreet in the third quarter valued at $478,000. 74.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on HMST. StockNews.com initiated coverage on shares of HomeStreet in a research report on Thursday. They set a “sell” rating for the company. Wedbush raised their price target on shares of HomeStreet from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reduced their price objective on HomeStreet from $15.50 to $13.50 and set a “market perform” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.50.

HomeStreet Price Performance

HMST stock opened at $10.48 on Thursday. The firm’s 50-day moving average is $13.58 and its two-hundred day moving average is $11.14. The company has a market capitalization of $197.63 million, a price-to-earnings ratio of -4.92 and a beta of 1.35. HomeStreet, Inc. has a 52 week low of $4.20 and a 52 week high of $15.82. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 4.40.

Insider Activity at HomeStreet

In other news, Director Joanne R. Harrell purchased 1,685 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $14.87 per share, with a total value of $25,055.95. Following the purchase, the director now owns 14,907 shares in the company, valued at approximately $221,667.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.60% of the company’s stock.

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.