Acadian Asset Management LLC Buys New Holdings in HomeStreet Inc (HMST)

Acadian Asset Management LLC bought a new position in shares of HomeStreet Inc (NASDAQ:HMST) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,135 shares of the financial services provider’s stock, valued at approximately $163,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Piedmont Investment Advisors LLC acquired a new position in shares of HomeStreet during the 2nd quarter valued at $172,000. Pinnacle Associates Ltd. acquired a new position in shares of HomeStreet during the 2nd quarter valued at $205,000. Alpine Woods Capital Investors LLC acquired a new position in shares of HomeStreet during the 2nd quarter valued at $218,000. SG Americas Securities LLC acquired a new position in shares of HomeStreet during the 2nd quarter valued at $250,000. Finally, Paloma Partners Management Co acquired a new position in shares of HomeStreet during the 2nd quarter valued at $253,000. 80.73% of the stock is currently owned by hedge funds and other institutional investors.

HMST opened at $25.47 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.95 and a current ratio of 1.02. HomeStreet Inc has a 1-year low of $24.50 and a 1-year high of $32.60. The firm has a market cap of $681.01 million, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 2.36 and a beta of 0.35.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings data on Monday, October 22nd. The financial services provider reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.03. HomeStreet had a net margin of 11.41% and a return on equity of 5.94%. The firm had revenue of $109.75 million for the quarter, compared to the consensus estimate of $114.14 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, equities research analysts anticipate that HomeStreet Inc will post 1.53 earnings per share for the current year.

In other HomeStreet news, EVP Mary L. Vincent sold 8,459 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $29.57, for a total transaction of $250,132.63. Following the transaction, the executive vice president now owns 14,123 shares in the company, valued at $417,617.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.64% of the company’s stock.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of HomeStreet from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Tuesday, August 14th. BidaskClub upgraded shares of HomeStreet from a “sell” rating to a “hold” rating in a research report on Saturday, September 15th. FIG Partners set a $30.00 target price on shares of HomeStreet and gave the company a “hold” rating in a research report on Wednesday, September 12th. ValuEngine upgraded shares of HomeStreet from a “hold” rating to a “buy” rating in a research report on Tuesday, October 23rd. Finally, TheStreet upgraded shares of HomeStreet from a “c+” rating to a “b” rating in a research report on Wednesday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.33.

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About HomeStreet

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.

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Institutional Ownership by Quarter for HomeStreet (NASDAQ:HMST)

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