AQR Capital Management LLC Trims Stake in HomeStreet, Inc. (NASDAQ:HMST)

AQR Capital Management LLC decreased its position in shares of HomeStreet, Inc. (NASDAQ:HMST) by 44.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,750 shares of the financial services provider’s stock after selling 93,173 shares during the quarter. AQR Capital Management LLC owned approximately 0.63% of HomeStreet worth $1,354,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in HomeStreet in the second quarter valued at approximately $410,000. Squarepoint Ops LLC acquired a new position in shares of HomeStreet during the second quarter valued at approximately $122,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of HomeStreet by 23.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock worth $164,000 after buying an additional 2,703 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 28,874 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of HomeStreet by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock valued at $809,000 after acquiring an additional 3,113 shares during the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price target on 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 initiated coverage on HomeStreet in a report on Sunday, September 22nd. They issued a “sell” rating on the stock. Finally, Janney Montgomery Scott upgraded HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective for the company in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.25.

Insider Buying and Selling

In related 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 value of $37,431.59. Following the completion of the sale, the director now directly owns 16,923 shares in the company, valued at approximately $263,829.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.60% of the company’s stock.

HomeStreet Price Performance

Shares of HMST opened at $15.09 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. HomeStreet, Inc. has a twelve month low of $4.20 and a twelve month high of $16.10. The stock’s 50 day moving average is $15.04 and its two-hundred day moving average is $12.83. The firm has a market capitalization of $284.57 million, a PE ratio of -7.08 and a beta of 1.37.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings results on Monday, July 29th. The financial services provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. The business had revenue of $114.35 million during the quarter, compared to the consensus estimate of $43.33 million. HomeStreet had a negative net margin of 3.30% and a negative return on equity of 1.87%. Research analysts anticipate that HomeStreet, Inc. will post -0.87 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.