Assetmark Inc. Makes New Investment in HomeStreet, Inc. (NASDAQ:HMST)

Assetmark Inc. purchased a new stake in HomeStreet, Inc. (NASDAQ:HMST) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,460 shares of the financial services provider’s stock, valued at approximately $40,000.

Several other institutional investors have also recently added to or reduced their stakes in HMST. EMC Capital Management lifted its position in shares of HomeStreet by 20.8% during the 4th quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $98,000 after acquiring an additional 1,484 shares during the period. Proficio Capital Partners LLC acquired a new position in HomeStreet during the 4th quarter worth approximately $214,000. JPMorgan Chase & Co. raised its stake in HomeStreet by 113.0% during 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 period. Barclays PLC raised its stake in HomeStreet by 276.4% during the 3rd 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 during the period. Finally, Quest Partners LLC raised its position in shares of HomeStreet by 2,941,900.0% during the third 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. 74.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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 report on Thursday, December 19th.

HomeStreet Trading Up 2.8 %

NASDAQ HMST opened at $8.95 on Friday. The firm has a market capitalization of $169.34 million, a P/E ratio of -1.17 and a beta of 1.45. The business has a fifty day simple moving average of $10.00 and a 200 day simple moving average of $11.98. HomeStreet, Inc. has a 12 month low of $8.09 and a 12 month 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.

HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.05). HomeStreet had a negative net margin of 40.30% and a negative return on equity of 4.23%. On average, analysts predict that HomeStreet, Inc. will post 0.3 EPS for the current fiscal year.

Insider Activity at HomeStreet

In other news, EVP David L. Parr sold 5,210 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $11.53, for a total transaction of $60,071.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sidney Craig Tompkins purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $11.49 per share, with a total value of $57,450.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $57,450. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by company insiders.

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.