HomeStreet, Inc. (NASDAQ:HMST) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in HomeStreet, Inc. (NASDAQ:HMST) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,950 shares of the financial services provider’s stock after purchasing an additional 3,113 shares during the period. Bank of New York Mellon Corp owned approximately 0.38% of HomeStreet worth $809,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of HMST. Charles Schwab Investment Management Inc. lifted its position in HomeStreet by 27.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 586,929 shares of the financial services provider’s stock worth $6,045,000 after acquiring an additional 127,969 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of HomeStreet during the first quarter worth $3,720,000. CCG Wealth Management LLC boosted its stake in shares of HomeStreet by 29.3% in the first quarter. CCG Wealth Management LLC now owns 229,781 shares of the financial services provider’s stock valued at $3,458,000 after purchasing an additional 52,136 shares during the period. Hennessy Advisors Inc. acquired a new stake in HomeStreet during the 4th quarter valued at $2,112,000. Finally, Trexquant Investment LP increased its stake in HomeStreet by 70.8% during the 4th quarter. Trexquant Investment LP now owns 167,420 shares of the financial services provider’s stock worth $1,724,000 after buying an additional 69,384 shares during the period. Hedge funds and other institutional investors own 74.71% of the company’s stock.

HomeStreet Trading Down 2.9 %

HomeStreet stock opened at $14.85 on Monday. HomeStreet, Inc. has a 12 month low of $4.20 and a 12 month high of $16.10. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 4.06. The stock has a market cap of $280.04 million, a P/E ratio of -6.97 and a beta of 1.37. The company’s fifty day simple moving average is $14.65 and its 200-day simple moving average is $12.79.

HomeStreet (NASDAQ:HMST) last posted its earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.01. HomeStreet had a negative return on equity of 1.87% and a negative net margin of 3.30%. The company had revenue of $114.35 million for the quarter, compared to analyst estimates of $43.33 million. As a group, sell-side analysts forecast that HomeStreet, Inc. will post -0.87 EPS for the current fiscal year.

Insider Activity at HomeStreet

In other news, Director Paulette Lemon sold 2,401 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $15.59, for a total value of $37,431.59. Following the sale, the director now directly owns 16,923 shares in the company, valued at approximately $263,829.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HMST. Keefe, Bruyette & Woods raised their price target on shares of HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com started coverage on shares of HomeStreet in a research report on Sunday. They issued a “sell” rating for the company. Finally, Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.25.

HomeStreet Profile

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services in the Western United States. The company offers personal and business checking, savings, interest-bearing negotiable order of withdrawal, and money market accounts, as well as certificates of deposit; credit cards; insurance; and treasury management services.