Boston Partners Buys New Stake in HomeStreet, Inc. (HMST)
Boston Partners bought a new position in HomeStreet, Inc. (NASDAQ:HMST) during the second quarter, Holdings Channel reports. The institutional investor bought 269,500 shares of the financial services provider’s stock, valued at approximately $7,458,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HMST. First Interstate Bank increased its position in HomeStreet by 80.4% in the first quarter. First Interstate Bank now owns 3,915 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,745 shares in the last quarter. State of Alaska Department of Revenue increased its position in HomeStreet by 90.7% in the second quarter. State of Alaska Department of Revenue now owns 5,321 shares of the financial services provider’s stock worth $147,000 after buying an additional 2,531 shares in the last quarter. Mason Street Advisors LLC increased its position in HomeStreet by 15.5% in the first quarter. Mason Street Advisors LLC now owns 5,891 shares of the financial services provider’s stock worth $165,000 after buying an additional 789 shares in the last quarter. Airain ltd purchased a new position in HomeStreet during the first quarter worth approximately $211,000. Finally, Louisiana State Employees Retirement System increased its position in HomeStreet by 9.6% in the first quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock worth $288,000 after buying an additional 900 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.
Shares of HomeStreet, Inc. (NASDAQ:HMST) opened at 24.25 on Friday. HomeStreet, Inc. has a one year low of $23.51 and a one year high of $33.70. The company has a market cap of $651.94 million, a P/E ratio of 12.60 and a beta of 0.05. The company has a 50 day moving average price of $26.70 and a 200 day moving average price of $26.90.
HomeStreet (NASDAQ:HMST) last released its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.60 by $0.18. HomeStreet had a net margin of 8.89% and a return on equity of 8.10%. The company had revenue of $127.88 million during the quarter, compared to the consensus estimate of $143.41 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. Equities research analysts expect that HomeStreet, Inc. will post $1.56 earnings per share for the current year.
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Several analysts recently issued reports on the company. Zacks Investment Research downgraded HomeStreet from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. BidaskClub raised HomeStreet from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $31.00 price target on shares of HomeStreet in a report on Friday, June 2nd. ValuEngine downgraded HomeStreet from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, FIG Partners reissued a “market perform” rating and issued a $26.25 price target (down previously from $29.25) on shares of HomeStreet in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. HomeStreet presently has an average rating of “Hold” and an average target price of $29.45.
In other news, EVP William Endresen sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $27.38, for a total value of $27,380.00. Following the sale, the executive vice president now directly owns 1,170 shares in the company, valued at approximately $32,034.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 7.59% of the company’s stock.
HomeStreet Company Profile
HomeStreet, Inc is a financial services company serving customers primarily in the western United States, including Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. The Company’s operating segments include Commercial and Consumer Banking, and Mortgage Banking.
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