JPMorgan Chase & Co. Raises Stake in HomeStreet, Inc. (NASDAQ:HMST)

JPMorgan Chase & Co. increased its position in shares of HomeStreet, Inc. (NASDAQ:HMST) by 113.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,814 shares of the financial services provider’s stock after purchasing an additional 12,632 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of HomeStreet worth $375,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of HomeStreet by 494.0% during the third quarter. Wellington Management Group LLP now owns 670,926 shares of the financial services provider’s stock worth $10,574,000 after buying an additional 557,977 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of HomeStreet by 4.7% in the second quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock valued at $7,299,000 after buying an additional 28,874 shares in the last quarter. Barclays PLC lifted its position in shares of HomeStreet by 276.4% during the third quarter. Barclays PLC now owns 23,937 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 17,578 shares in the last quarter. Stieven Capital Advisors L.P. acquired a new stake in shares of HomeStreet during the third quarter valued at about $5,358,000. Finally, Geode Capital Management LLC increased its holdings in HomeStreet by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 426,130 shares of the financial services provider’s stock worth $6,717,000 after purchasing an additional 7,898 shares during the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HMST shares. Janney Montgomery Scott lowered HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Wedbush boosted their target price on HomeStreet from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th.

Insiders Place Their Bets

In other HomeStreet news, CFO John Michel sold 8,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $11.26, for a total transaction of $90,080.00. Following the completion of the transaction, the chief financial officer now directly owns 28,409 shares in the company, valued at $319,885.34. This represents a 21.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David L. Parr sold 5,210 shares of HomeStreet stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $11.53, for a total value of $60,071.30. The disclosure for this sale can be found here. Insiders sold 17,846 shares of company stock valued at $203,697 over the last quarter. Insiders own 4.60% of the company’s stock.

HomeStreet Stock Down 4.1 %

Shares of NASDAQ:HMST opened at $9.66 on Thursday. The firm has a 50 day simple moving average of $11.00 and a 200 day simple moving average of $12.98. The company has a market cap of $182.19 million, a PE ratio of -7.43 and a beta of 1.48. HomeStreet, Inc. has a 52 week low of $8.09 and a 52 week high of $16.10. The company has a debt-to-equity ratio of 3.94, a quick ratio of 1.15 and a current ratio of 1.15.

HomeStreet (NASDAQ:HMST) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.05). HomeStreet had a negative net margin of 5.44% and a negative return on equity of 3.40%. As a group, research analysts expect that HomeStreet, Inc. will post -1.09 earnings per share for the current year.

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.