Price T Rowe Associates Inc. MD lowered its stake in shares of HomeStreet, Inc. (NASDAQ:HMST) by 29.6% in the fourth quarter, HoldingsChannel reports. The firm owned 33,041 shares of the financial services provider’s stock after selling 13,909 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in HomeStreet were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Founders Capital Management acquired a new position in HomeStreet during the 4th quarter valued at approximately $34,000. Veriti Management LLC acquired a new position in HomeStreet during the 4th quarter valued at approximately $35,000. KBC Group NV acquired a new position in HomeStreet during the 4th quarter valued at approximately $107,000. Engineers Gate Manager LP acquired a new position in HomeStreet during the 4th quarter valued at approximately $204,000. Finally, Arizona State Retirement System acquired a new position in HomeStreet during the 4th quarter valued at approximately $222,000. Institutional investors and hedge funds own 83.68% of the company’s stock.
Several analysts have weighed in on HMST shares. DA Davidson reaffirmed a “neutral” rating and set a $49.00 target price (up previously from $43.00) on shares of HomeStreet in a research note on Monday, March 15th. B. Riley lifted their target price on HomeStreet from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, April 9th. Finally, Zacks Investment Research downgraded HomeStreet from a “buy” rating to a “hold” rating in a research note on Tuesday, March 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. HomeStreet currently has a consensus rating of “Hold” and an average price target of $43.80.
HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Sunday, January 24th. The financial services provider reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.18. HomeStreet had a return on equity of 10.39% and a net margin of 16.89%. The company had revenue of $100.03 million for the quarter, compared to the consensus estimate of $87.05 million. On average, research analysts expect that HomeStreet, Inc. will post 3.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 24th. Stockholders of record on Tuesday, February 9th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Monday, February 8th. This is an increase from HomeStreet’s previous quarterly dividend of $0.15. HomeStreet’s payout ratio is currently 58.82%.
In other news, Director Sandra A. Cavanaugh acquired 1,725 shares of the company’s stock in a transaction dated Friday, February 26th. The shares were bought at an average price of $43.48 per share, with a total value of $75,003.00. Following the purchase, the director now owns 10,089 shares of the company’s stock, valued at $438,669.72. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Godfrey B. Evans sold 14,000 shares of the business’s stock in a transaction on Wednesday, February 3rd. The stock was sold at an average price of $38.34, for a total value of $536,760.00. Following the completion of the sale, the executive vice president now directly owns 95,006 shares in the company, valued at approximately $3,642,530.04. The disclosure for this sale can be found here. Insiders sold a total of 25,746 shares of company stock worth $1,028,325 in the last three months. Company insiders own 3.62% of the company’s stock.
HomeStreet, Inc operates as the bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides commercial and consumer banking services primarily in the Western United States. The company offers deposit and insurance products, private banking and cash management services, and other banking services.
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