Marshall Wace LLP Sells 100,437 Shares of HomeStreet, Inc. (NASDAQ:HMST)

Marshall Wace LLP cut its holdings in HomeStreet, Inc. (NASDAQ:HMST - Free Report) by 42.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 0.71% of HomeStreet worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EMC Capital Management grew its stake in HomeStreet by 16.2% in the first quarter. EMC Capital Management now owns 8,613 shares of the financial services provider's stock worth $130,000 after purchasing an additional 1,201 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in HomeStreet by 23.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider's stock valued at $164,000 after acquiring an additional 2,703 shares during the period. Price T Rowe Associates Inc. MD lifted its position 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. Neuberger Berman Group LLC bought a new stake in HomeStreet during the fourth quarter worth about $170,000. Finally, Caldwell Sutter Capital Inc. bought a new position in shares of HomeStreet during the first quarter valued at approximately $903,000. Institutional investors own 74.71% of the company's stock.

Wall Street Analysts Forecast Growth

HMST has been the subject of several recent analyst reports. StockNews.com began coverage on HomeStreet in a research report on Sunday, September 22nd. They issued a "sell" rating for the company. Keefe, Bruyette & Woods increased their price objective on shares of HomeStreet from $13.50 to $14.50 and gave the company a "market perform" rating in a research report on Tuesday, July 30th. Finally, Janney Montgomery Scott raised shares of HomeStreet from a "neutral" rating to a "buy" rating and set a $13.50 target price for the company in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $12.25.

Insiders Place Their Bets

In other HomeStreet news, Director Paulette Lemon sold 2,401 shares of the firm's stock in a transaction dated 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 directly owns 16,923 shares of the company's stock, valued at $263,829.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.60% of the company's stock.

HomeStreet Stock Performance

HMST stock traded down $0.09 during midday trading on Friday, reaching $15.16. 34,290 shares of the company's stock traded hands, compared to its average volume of 199,875. The stock's 50-day moving average is $14.97 and its 200 day moving average is $12.80. The stock 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 52-week low of $4.20 and a 52-week high of $16.10. 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 (NASDAQ:HMST - Get Free Report) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.01. The business had revenue of $114.35 million during the quarter, compared to analyst estimates of $43.33 million. HomeStreet had a negative return on equity of 1.87% and a negative net margin of 3.30%. As a group, analysts anticipate that HomeStreet, Inc. will post -0.87 EPS 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.