Wellington Management Group LLP Grows Stake in HomeStreet, Inc. (NASDAQ:HMST)

Wellington Management Group LLP increased its position in shares of HomeStreet, Inc. (NASDAQ:HMST - Free Report) by 37.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 919,278 shares of the financial services provider's stock after acquiring an additional 248,352 shares during the period. Wellington Management Group LLP owned approximately 4.87% of HomeStreet worth $10,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. purchased a new stake in shares of HomeStreet in the 4th quarter valued at about $40,000. EMC Capital Management raised its stake in HomeStreet by 20.8% in the fourth quarter. EMC Capital Management now owns 8,613 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 1,484 shares in the last quarter. Sei Investments Co. purchased a new stake in HomeStreet in the fourth quarter valued at approximately $131,000. Proficio Capital Partners LLC bought a new stake in HomeStreet during the fourth quarter valued at approximately $214,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of HomeStreet by 113.0% in the 3rd 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 during the last quarter. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of HomeStreet from $10.00 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, April 1st. Janney Montgomery Scott upgraded HomeStreet from a "neutral" rating to a "buy" rating in a report on Tuesday, April 1st. Finally, Wedbush raised their price objective on HomeStreet from $12.00 to $15.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $14.25.

HomeStreet Stock Up 0.8 %

Shares of HomeStreet stock traded up $0.08 during midday trading on Tuesday, hitting $10.69. The company had a trading volume of 13,492 shares, compared to its average volume of 161,619. 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 3.09, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $202.27 million, a P/E ratio of -1.40 and a beta of 1.33. The company has a 50 day moving average of $10.03 and a 200 day moving average of $11.20.

HomeStreet (NASDAQ:HMST - Get Free Report) last issued its 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 return on equity of 4.23% and a negative net margin of 40.30%. On average, equities analysts predict that HomeStreet, Inc. will post 0.3 earnings per share for the current fiscal year.

HomeStreet Company Profile

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.