Bessemer Group Inc. Sells 4,100 Shares of HomeStreet Inc (HMST)

Bessemer Group Inc. reduced its stake in shares of HomeStreet Inc (NASDAQ:HMST) by 43.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,300 shares of the financial services provider’s stock after selling 4,100 shares during the quarter. Bessemer Group Inc.’s holdings in HomeStreet were worth $140,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. OppenheimerFunds Inc. grew its stake in shares of HomeStreet by 16.1% during the second quarter. OppenheimerFunds Inc. now owns 12,934 shares of the financial services provider’s stock valued at $349,000 after buying an additional 1,795 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of HomeStreet by 2.5% during the first quarter. Principal Financial Group Inc. now owns 206,124 shares of the financial services provider’s stock valued at $5,905,000 after buying an additional 4,952 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of HomeStreet during the second quarter valued at about $253,000. Piedmont Investment Advisors LLC bought a new position in shares of HomeStreet during the second quarter valued at about $172,000. Finally, Pinnacle Associates Ltd. bought a new position in shares of HomeStreet during the second quarter valued at about $205,000. 80.73% of the stock is currently owned by hedge funds and other institutional investors.

HomeStreet stock opened at $26.05 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.02 and a debt-to-equity ratio of 1.32. The stock has a market cap of $687.48 million, a PE ratio of 15.51, a PEG ratio of 2.38 and a beta of 0.35. HomeStreet Inc has a 1-year low of $24.50 and a 1-year high of $32.60.

HomeStreet (NASDAQ:HMST) last posted its earnings results on Monday, October 22nd. The financial services provider reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.03. The company had revenue of $109.75 million during the quarter, compared to analyst estimates of $114.14 million. HomeStreet had a net margin of 11.41% and a return on equity of 5.94%. During the same period in the prior year, the business posted $0.51 earnings per share. Sell-side analysts predict that HomeStreet Inc will post 1.53 earnings per share for the current year.

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

A number of brokerages have recently issued reports on HMST. ValuEngine cut HomeStreet from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. BidaskClub raised HomeStreet from a “sell” rating to a “hold” rating in a research note on Saturday, September 15th. Zacks Investment Research cut HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 17th. TheStreet raised HomeStreet from a “c+” rating to a “b” rating in a research note on Wednesday, October 31st. Finally, FIG Partners set a $30.00 target price on shares of HomeStreet and gave the stock a “hold” rating in a report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $31.33.

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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.

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Institutional Ownership by Quarter for HomeStreet (NASDAQ:HMST)

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