EMC Capital Management Increases Stake in HomeStreet, Inc. (NASDAQ:HMST)

EMC Capital Management boosted its holdings in shares of HomeStreet, Inc. (NASDAQ:HMST) by 16.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,613 shares of the financial services provider’s stock after acquiring an additional 1,201 shares during the period. EMC Capital Management’s holdings in HomeStreet were worth $130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of HMST. Kennedy Capital Management LLC purchased a new position in HomeStreet in the first quarter worth $3,720,000. Price T Rowe Associates Inc. MD boosted its position in HomeStreet by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 1,354 shares during the period. Caldwell Sutter Capital Inc. bought a new stake in shares of HomeStreet in the 1st quarter worth $903,000. CCG Wealth Management LLC raised its position in shares of HomeStreet by 29.3% during the first quarter. CCG Wealth Management LLC now owns 229,781 shares of the financial services provider’s stock worth $3,458,000 after purchasing an additional 52,136 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of HomeStreet during the fourth quarter worth $2,112,000. 74.71% of the stock is currently owned by institutional investors.

HomeStreet Trading Down 0.6 %

Shares of NASDAQ HMST traded down $0.09 during midday trading on Friday, hitting $14.11. 184,980 shares of the company traded hands, compared to its average volume of 234,307. HomeStreet, Inc. has a 12-month low of $4.20 and a 12-month high of $15.82. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.17 and a current ratio of 1.14. The stock has a 50-day moving average price of $11.25 and a 200 day moving average price of $12.55. The firm has a market cap of $266.11 million, a P/E ratio of -6.62 and a beta of 1.38.

HomeStreet (NASDAQ:HMST) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.01. The business had revenue of $114.35 million for the quarter, compared to the consensus estimate of $43.33 million. HomeStreet had a negative net margin of 3.30% and a negative return on equity of 1.87%. As a group, analysts expect that HomeStreet, Inc. will post -0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their target price on HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a research note on Tuesday. StockNews.com initiated coverage on HomeStreet in a report on Sunday, July 28th. They set a “sell” rating on the stock. Finally, Janney Montgomery Scott raised HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 target price on the stock in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.25.

About HomeStreet

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.