Foundry Partners LLC Reduces Stake in HomeStreet Inc (HMST)

Share on StockTwits

Foundry Partners LLC lessened its holdings in shares of HomeStreet Inc (NASDAQ:HMST) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 279,140 shares of the financial services provider’s stock after selling 8,385 shares during the period. Foundry Partners LLC owned 1.03% of HomeStreet worth $7,397,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in HMST. Wells Fargo & Company MN boosted its holdings in shares of HomeStreet by 4.4% during the 1st quarter. Wells Fargo & Company MN now owns 155,389 shares of the financial services provider’s stock valued at $4,452,000 after buying an additional 6,572 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in HomeStreet by 14.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 130,129 shares of the financial services provider’s stock worth $3,729,000 after purchasing an additional 16,815 shares in the last quarter. Northern Trust Corp boosted its stake in HomeStreet by 0.6% in the 1st quarter. Northern Trust Corp now owns 496,984 shares of the financial services provider’s stock worth $14,240,000 after purchasing an additional 2,999 shares in the last quarter. BlackRock Inc. boosted its stake in HomeStreet by 2.8% in the 1st quarter. BlackRock Inc. now owns 3,557,126 shares of the financial services provider’s stock worth $101,912,000 after purchasing an additional 95,923 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in HomeStreet by 16.1% in the 1st quarter. JPMorgan Chase & Co. now owns 215,289 shares of the financial services provider’s stock worth $6,168,000 after purchasing an additional 29,863 shares in the last quarter. Hedge funds and other institutional investors own 81.25% of the company’s stock.

In other HomeStreet news, EVP Mary L. Vincent sold 8,459 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $29.57, for a total value of $250,132.63. Following the completion of the transaction, the executive vice president now owns 14,123 shares of the company’s stock, valued at approximately $417,617.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Edward Schultz sold 11,644 shares of the business’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $29.48, for a total value of $343,265.12. The disclosure for this sale can be found here. 1.64% of the stock is currently owned by insiders.

Shares of HomeStreet stock opened at $25.58 on Friday. The stock has a market capitalization of $706.25 million, a P/E ratio of 15.31, a PEG ratio of 1.79 and a beta of 0.33. HomeStreet Inc has a 1 year low of $24.50 and a 1 year high of $32.60. The company has a current ratio of 1.06, a quick ratio of 0.96 and a debt-to-equity ratio of 1.65.

HomeStreet (NASDAQ:HMST) last announced its quarterly earnings results on Monday, July 23rd. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.11. The company had revenue of $120.39 million for the quarter, compared to analysts’ expectations of $119.61 million. HomeStreet had a net margin of 11.40% and a return on equity of 6.66%. During the same quarter in the previous year, the business posted $0.42 EPS. As a group, analysts expect that HomeStreet Inc will post 1.46 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on HMST shares. ValuEngine cut shares of HomeStreet from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. BidaskClub upgraded shares of HomeStreet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Zacks Investment Research upgraded shares of HomeStreet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. B. Riley upped their price target on shares of HomeStreet from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, FIG Partners set a $30.00 price target on shares of HomeStreet and gave the stock a “hold” rating in a research note on Wednesday, September 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $31.14.

HomeStreet Company Profile

HomeStreet, Inc, together with its subsidiaries, provides various financial services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking. The Commercial and Consumer Banking segment offers deposit products; non-deposit investment products; and insurance products and cash management services.

Recommended Story: What are the components of an earnings report?

Institutional Ownership by Quarter for HomeStreet (NASDAQ:HMST)

Receive News & Ratings for HomeStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HomeStreet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply