Arrowstreet Capital Limited Partnership Increases Position in HomeStreet, Inc. (NASDAQ:HMST)

Arrowstreet Capital Limited Partnership lifted its stake in HomeStreet, Inc. (NASDAQ:HMST) by 89.1% in the 4th quarter, Holdings Channel reports. The firm owned 67,711 shares of the financial services provider’s stock after purchasing an additional 31,895 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in HomeStreet were worth $773,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HMST. JPMorgan Chase & Co. boosted its stake in shares of HomeStreet by 189.0% during the 4th quarter. JPMorgan Chase & Co. now owns 68,817 shares of the financial services provider’s stock worth $786,000 after acquiring an additional 45,003 shares in the last quarter. Sei Investments Co. purchased a new stake in HomeStreet during the fourth quarter worth $131,000. Proficio Capital Partners LLC acquired a new stake in HomeStreet in the fourth quarter valued at $214,000. Assetmark Inc. purchased a new position in shares of HomeStreet in the fourth quarter valued at $40,000. Finally, Acuitas Investments LLC raised its stake in shares of HomeStreet by 1.1% during the 4th quarter. Acuitas Investments LLC now owns 336,308 shares of the financial services provider’s stock worth $3,841,000 after buying an additional 3,619 shares during the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HMST. Wedbush increased their price objective on shares of HomeStreet from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 1st. Finally, Piper Sandler upped their target price on HomeStreet from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.25.

HomeStreet Price Performance

HomeStreet stock opened at $10.57 on Friday. The stock has a market capitalization of $199.99 million, a P/E ratio of -1.38 and a beta of 1.33. HomeStreet, Inc. has a 12-month low of $8.09 and a 12-month high of $16.10. The company has a debt-to-equity ratio of 3.09, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50-day moving average is $10.03 and its two-hundred day moving average is $11.26.

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

HomeStreet 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.