Wells Fargo & Company MN Buys 2,339 Shares of HomeStreet, Inc. (NASDAQ:HMST)

Wells Fargo & Company MN lifted its holdings in HomeStreet, Inc. (NASDAQ:HMST) by 27.5% during the 4th quarter, HoldingsChannel reports. The fund owned 10,852 shares of the financial services provider’s stock after acquiring an additional 2,339 shares during the quarter. Wells Fargo & Company MN’s holdings in HomeStreet were worth $124,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. 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. Assetmark Inc. acquired a new position in HomeStreet in the 4th quarter valued at approximately $40,000. Acuitas Investments LLC lifted its holdings in 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 period. Sei Investments Co. acquired a new stake in HomeStreet during the 4th quarter valued at approximately $131,000. Finally, JPMorgan Chase & Co. raised its stake in HomeStreet by 113.0% during the third 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. Institutional investors and hedge funds own 74.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on HMST shares. Keefe, Bruyette & Woods raised their price target on shares of HomeStreet from $12.00 to $13.50 and gave the stock a “market perform” rating in a report on Wednesday. Piper Sandler upped their target price on HomeStreet from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, April 1st. StockNews.com raised shares of HomeStreet from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, Janney Montgomery Scott upgraded HomeStreet from a “neutral” rating to a “buy” rating in a research note on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, HomeStreet has an average rating of “Hold” and an average target price of $14.00.

HomeStreet Price Performance

HomeStreet stock opened at $12.00 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.09. The business has a 50-day simple moving average of $10.50 and a 200 day simple moving average of $10.73. The stock has a market cap of $227.05 million, a price-to-earnings ratio of -1.57 and a beta of 1.34. HomeStreet, Inc. has a 52 week low of $8.09 and a 52 week high of $16.10.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings results on Monday, April 28th. The financial services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). HomeStreet had a negative return on equity of 4.23% and a negative net margin of 40.30%. The firm had revenue of $85.77 million for the quarter, compared to the consensus estimate of $46.61 million. On average, research analysts forecast 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.