Royce & Associates LP lifted its position in HomeStreet, Inc. (NASDAQ:HMST – Free Report) by 28.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,862 shares of the financial services provider’s stock after acquiring an additional 11,812 shares during the quarter. Royce & Associates LP owned approximately 0.28% of HomeStreet worth $951,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Yousif Capital Management LLC lifted its position in shares of HomeStreet by 1.3% during the 1st quarter. Yousif Capital Management LLC now owns 21,415 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 270 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in HomeStreet by 10.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,390 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 309 shares during the period. Baird Financial Group Inc. increased its position in shares of HomeStreet by 4.0% during the 4th quarter. Baird Financial Group Inc. now owns 9,792 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 376 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of HomeStreet by 31.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,184 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 527 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of HomeStreet by 3.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,710 shares of the financial services provider’s stock worth $571,000 after purchasing an additional 690 shares during the period. Hedge funds and other institutional investors own 82.30% of the company’s stock.
Insiders Place Their Bets
In related news, CFO John Michel acquired 10,000 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was acquired at an average cost of $5.99 per share, for a total transaction of $59,900.00. Following the acquisition, the chief financial officer now owns 50,000 shares of the company’s stock, valued at $299,500. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.60% of the company’s stock.
HomeStreet Stock Performance
HomeStreet (NASDAQ:HMST – Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The financial services provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The company had revenue of $53.79 million during the quarter, compared to analysts’ expectations of $57.07 million. HomeStreet had a return on equity of 6.69% and a net margin of 0.59%. Research analysts expect that HomeStreet, Inc. will post 0.54 EPS for the current year.
HomeStreet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.40 annualized dividend and a yield of 3.80%. HomeStreet’s dividend payout ratio (DPR) is presently 307.69%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the stock. Piper Sandler lifted their price target on shares of HomeStreet from $7.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday. Wedbush downgraded HomeStreet from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $21.00 to $12.00 in a research note on Wednesday, April 26th. TheStreet cut HomeStreet from a “c” rating to a “d+” rating in a research note on Friday, July 28th. Finally, StockNews.com assumed coverage on shares of HomeStreet in a research report on Thursday, May 18th. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, HomeStreet currently has an average rating of “Hold” and a consensus price target of $17.00.
About HomeStreet
HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services primarily in the Western United States. The company offers personal and business checking, savings accounts, interest-bearing, money market accounts, and certificates of deposit; credit cards; insurance; and cash management services.
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