Northpointe Capital LLC Has $12,098,000 Stake in HomeStreet Inc. (HMST)
Northpointe Capital LLC boosted its position in HomeStreet Inc. (NASDAQ:HMST) by 3.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 607,350 shares of the company’s stock after buying an additional 18,266 shares during the period. HomeStreet comprises about 1.4% of Northpointe Capital LLC’s holdings, making the stock its 13th largest position. Northpointe Capital LLC owned approximately 2.45% of HomeStreet worth $12,098,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can bought a new position in HomeStreet during the second quarter valued at approximately $162,000. Metropolitan Life Insurance Co. NY boosted its position in HomeStreet by 3.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,041 shares of the company’s stock valued at $334,000 after buying an additional 562 shares during the last quarter. Prudential Financial Inc. bought a new position in HomeStreet during the first quarter valued at approximately $341,000. Friess Associates LLC bought a new position in HomeStreet during the first quarter valued at approximately $583,000. Finally, Virginia Retirement System bought a new position in HomeStreet during the first quarter valued at approximately $789,000. Institutional investors and hedge funds own 72.75% of the company’s stock.
Shares of HomeStreet Inc. (NASDAQ:HMST) traded up 1.12% during trading on Monday, hitting $25.34. 133,205 shares of the stock were exchanged. The company has a market cap of $629.09 million, a P/E ratio of 12.66 and a beta of 0.10. The firm’s 50-day moving average is $25.15 and its 200 day moving average is $22.04. HomeStreet Inc. has a 1-year low of $18.58 and a 1-year high of $27.21.
HomeStreet (NASDAQ:HMST) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.22. HomeStreet had a return on equity of 10.01% and a net margin of 9.50%. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities analysts forecast that HomeStreet Inc. will post $2.27 earnings per share for the current fiscal year.
HMST has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of HomeStreet from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research note on Wednesday, June 29th. FBR & Co reiterated a “buy” rating and set a $29.00 target price on shares of HomeStreet in a research note on Wednesday, July 27th. Finally, DA Davidson cut shares of HomeStreet from a “buy” rating to a “neutral” rating and upped their target price for the company from $27.00 to $29.00 in a research note on Friday, September 9th.
HomeStreet Company Profile
HomeStreet, Inc is a financial services company serving customers primarily in the western United States, including Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Its operating segments include Commercial and Consumer Banking, and Mortgage Banking.
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