Verition Fund Management LLC reduced its holdings in shares of HomeStreet, Inc. (NASDAQ:HMST - Free Report) by 26.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,092 shares of the financial services provider's stock after selling 44,577 shares during the period. Verition Fund Management LLC owned about 0.67% of HomeStreet worth $1,987,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC raised its holdings in HomeStreet by 2,941,900.0% in the 3rd quarter. Quest Partners LLC now owns 29,420 shares of the financial services provider's stock worth $464,000 after purchasing an additional 29,419 shares during the period. Stieven Capital Advisors L.P. purchased a new stake in HomeStreet in the third quarter worth about $5,358,000. Mendon Capital Advisors Corp raised its stake in shares of HomeStreet by 21.0% in the second quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider's stock worth $4,138,000 after buying an additional 63,000 shares during the period. Endeavour Capital Advisors Inc. raised its stake in shares of HomeStreet by 113.6% in the second quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider's stock worth $8,051,000 after buying an additional 375,581 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of HomeStreet during the 2nd quarter valued at about $410,000. 74.71% of the stock is currently owned by institutional investors.
HomeStreet Price Performance
NASDAQ HMST traded down $0.14 during trading hours on Friday, reaching $11.62. The company's stock had a trading volume of 77,770 shares, compared to its average volume of 197,201. HomeStreet, Inc. has a 1 year low of $7.20 and a 1 year high of $16.10. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 3.94. The company has a market capitalization of $219.15 million, a price-to-earnings ratio of -8.94 and a beta of 1.49. The firm's 50-day moving average price is $12.79 and its 200-day moving average price is $12.79.
Insider Activity
In other news, EVP Godfrey B. Evans sold 4,636 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $11.55, for a total transaction of $53,545.80. Following the completion of the transaction, the executive vice president now owns 67,049 shares in the company, valued at $774,415.95. This trade represents a 6.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John Michel sold 8,000 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $11.26, for a total value of $90,080.00. Following the completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Company insiders own 4.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on HMST. Janney Montgomery Scott cut shares of HomeStreet from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 30th. StockNews.com began coverage on shares of HomeStreet in a research report on Sunday, September 22nd. They set a "sell" rating on the stock. Finally, Wedbush raised shares of HomeStreet from a "neutral" rating to an "outperform" rating and set a $12.00 target price for the company in a report on Tuesday, November 5th.
Get Our Latest Analysis on HomeStreet
HomeStreet Profile
(
Free Report)
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.
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