Assetmark Inc. Takes Position in HomeStreet, Inc. (NASDAQ:HMST)

Assetmark Inc. purchased a new stake in HomeStreet, Inc. (NASDAQ:HMST) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,460 shares of the financial services provider’s stock, valued at approximately $40,000.

Several other institutional investors and hedge funds have also modified their holdings of HMST. Wellington Management Group LLP grew its position in shares of HomeStreet by 494.0% during the 3rd quarter. Wellington Management Group LLP now owns 670,926 shares of the financial services provider’s stock worth $10,574,000 after purchasing an additional 557,977 shares in the last quarter. Barclays PLC grew its position in 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 buying an additional 17,578 shares in the last quarter. JPMorgan Chase & Co. grew its position in HomeStreet by 113.0% during the third quarter. JPMorgan Chase & Co. now owns 23,814 shares of the financial services provider’s stock worth $375,000 after buying an additional 12,632 shares in the last quarter. Stieven Capital Advisors L.P. acquired a new stake in HomeStreet during the third quarter worth approximately $5,358,000. Finally, Geode Capital Management LLC grew its holdings in shares of 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 in the last quarter. 74.71% of the stock is currently owned by institutional investors and hedge funds.

HomeStreet Trading Up 2.8 %

HMST opened at $8.95 on Friday. The company’s 50 day moving average is $10.00 and its 200-day moving average is $11.98. HomeStreet, Inc. has a 1-year low of $8.09 and a 1-year high of $16.10. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.09. The company has a market cap of $169.34 million, a P/E ratio of -1.17 and a beta of 1.45.

HomeStreet (NASDAQ:HMST) last issued its earnings results on Monday, January 27th. The financial services provider reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). HomeStreet had a negative net margin of 40.30% and a negative return on equity of 4.23%. Equities research analysts predict that HomeStreet, Inc. will post 0.3 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP David L. Parr sold 5,210 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sidney Craig Tompkins purchased 5,000 shares of HomeStreet stock in a transaction on Tuesday, December 17th. The stock was bought at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $57,450. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush upped their price objective on shares of HomeStreet from $12.00 to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th.

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.