Marshall Wace LLP Trims Stake in HomeStreet, Inc. (NASDAQ:HMST)

Marshall Wace LLP lessened its position in HomeStreet, Inc. (NASDAQ:HMST) by 42.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,081 shares of the financial services provider’s stock after selling 100,437 shares during the quarter. Marshall Wace LLP owned 0.71% of HomeStreet worth $1,529,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HMST. Neuberger Berman Group LLC bought a new stake in HomeStreet in the fourth quarter worth about $170,000. CCG Wealth Management LLC raised its holdings 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 worth $3,458,000 after buying an additional 52,136 shares during the period. Caldwell Sutter Capital Inc. bought a new stake in shares of HomeStreet during the 1st quarter worth approximately $903,000. Price T Rowe Associates Inc. MD boosted its holdings in HomeStreet by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 1,354 shares during the period. Finally, Kennedy Capital Management LLC bought a new position in HomeStreet in the 1st quarter valued at $3,720,000. 74.71% of the stock is owned by hedge funds and other institutional investors.

HomeStreet Stock Performance

Shares of HomeStreet stock opened at $15.16 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 4.06. The stock’s fifty day moving average price is $14.97 and its 200-day moving average price is $12.81. The firm has a market cap of $285.89 million, a P/E ratio of -7.12 and a beta of 1.37. HomeStreet, Inc. has a 12 month low of $4.20 and a 12 month high of $16.10.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. StockNews.com assumed coverage on shares of HomeStreet in a research report on Sunday, September 22nd. 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 target price on the stock in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued 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 price target of $12.25.

Insider Buying and Selling

In other HomeStreet news, Director Paulette Lemon sold 2,401 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $15.59, for a total transaction of $37,431.59. Following the sale, the director now owns 16,923 shares of the company’s stock, valued at approximately $263,829.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.60% of the stock is currently owned by insiders.

About HomeStreet

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.