Hennessy Advisors Inc. Lowers Stock Holdings in HomeStreet, Inc. (NASDAQ:HMST)

Hennessy Advisors Inc. reduced its position in HomeStreet, Inc. (NASDAQ:HMST) by 37.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,000 shares of the financial services provider’s stock after selling 75,000 shares during the quarter. Hennessy Advisors Inc. owned about 0.66% of HomeStreet worth $1,425,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Acuitas Investments LLC boosted its holdings in HomeStreet by 86.0% in the 4th quarter. Acuitas Investments LLC now owns 342,643 shares of the financial services provider’s stock valued at $3,529,000 after purchasing an additional 158,455 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in HomeStreet by 27.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 586,929 shares of the financial services provider’s stock valued at $6,045,000 after buying an additional 127,969 shares during the period. Neuberger Berman Group LLC purchased a new position in HomeStreet during the fourth quarter worth about $170,000. Trexquant Investment LP increased its stake in HomeStreet by 70.8% in the 4th quarter. Trexquant Investment LP now owns 167,420 shares of the financial services provider’s stock worth $1,724,000 after acquiring an additional 69,384 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of HomeStreet in the 4th quarter valued at about $151,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com started coverage on HomeStreet in a report on Wednesday. They set a “sell” rating for the company. Keefe, Bruyette & Woods boosted their price target on shares of HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th. Finally, Janney Montgomery Scott upgraded shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective on the stock in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.25.

HomeStreet Stock Performance

NASDAQ:HMST opened at $15.72 on Friday. The company has a market capitalization of $296.45 million, a price-to-earnings ratio of -7.38 and a beta of 1.38. The business has a 50 day moving average of $13.04 and a 200 day moving average of $12.57. The company has a debt-to-equity ratio of 4.06, a current ratio of 1.14 and a quick ratio of 1.17. HomeStreet, Inc. has a 1-year low of $4.20 and a 1-year high of $15.88.

HomeStreet (NASDAQ:HMST) last announced its quarterly earnings data on Monday, July 29th. The financial services provider reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.01. HomeStreet had a negative net margin of 3.30% and a negative return on equity of 1.87%. The firm had revenue of $114.35 million during the quarter, compared to analyst estimates of $43.33 million. On average, sell-side analysts predict that HomeStreet, Inc. will post -0.87 earnings per share for the current fiscal year.

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.