HomeStreet, Inc. (HMST) Shares Sold by Piermont Capital Management Inc.
Piermont Capital Management Inc. lessened its stake in HomeStreet, Inc. (NASDAQ:HMST) by 20.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,226 shares of the financial services provider’s stock after selling 21,427 shares during the period. Piermont Capital Management Inc. owned approximately 0.31% of HomeStreet worth $2,303,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of HMST. First Interstate Bank grew its position in HomeStreet by 80.4% in the 1st quarter. First Interstate Bank now owns 3,915 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,745 shares during the period. SG Americas Securities LLC bought a new stake in HomeStreet in the 2nd quarter worth approximately $117,000. State of Alaska Department of Revenue grew its position in HomeStreet by 90.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,321 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 2,531 shares during the period. Mason Street Advisors LLC grew its position in HomeStreet by 15.5% in the 1st quarter. Mason Street Advisors LLC now owns 5,891 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 789 shares during the period. Finally, Airain ltd bought a new stake in HomeStreet in the 1st quarter worth approximately $211,000. 83.89% of the stock is owned by institutional investors and hedge funds.
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A number of equities research analysts have commented on the stock. BidaskClub downgraded shares of HomeStreet from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. ValuEngine downgraded shares of HomeStreet from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. FIG Partners reissued a “market perform” rating and set a $26.25 price objective (down previously from $29.25) on shares of HomeStreet in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $31.00 price objective on shares of HomeStreet in a research report on Friday, July 14th. Finally, Zacks Investment Research downgraded shares of HomeStreet from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.56.
Shares of HomeStreet, Inc. (HMST) traded up 0.78% during midday trading on Friday, hitting $25.75. 81,369 shares of the stock were exchanged. HomeStreet, Inc. has a 12 month low of $24.00 and a 12 month high of $33.70. The stock has a market cap of $692.26 million, a price-to-earnings ratio of 13.38 and a beta of 0.07. The firm’s 50-day moving average is $25.23 and its 200-day moving average is $26.65.
HomeStreet (NASDAQ:HMST) last released its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.18). The business had revenue of $127.88 million during the quarter, compared to analyst estimates of $143.41 million. HomeStreet had a return on equity of 8.10% and a net margin of 8.89%. During the same quarter in the previous year, the company earned $0.90 EPS. Equities research analysts predict that HomeStreet, Inc. will post $1.56 earnings per share for the current year.
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. The Company’s operating segments include Commercial and Consumer Banking, and Mortgage Banking.
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