Wellington Management Group LLP Buys 557,977 Shares of HomeStreet, Inc. (NASDAQ:HMST)

Wellington Management Group LLP increased its stake in shares of HomeStreet, Inc. (NASDAQ:HMST) by 494.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 670,926 shares of the financial services provider’s stock after purchasing an additional 557,977 shares during the period. Wellington Management Group LLP owned approximately 3.56% of HomeStreet worth $10,574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Endeavour Capital Advisors Inc. grew its position in HomeStreet by 113.6% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock worth $8,051,000 after purchasing an additional 375,581 shares during the period. Stieven Capital Advisors L.P. bought a new stake in shares of HomeStreet in the third quarter worth $5,358,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in HomeStreet during the third quarter valued at $2,633,000. Philadelphia Financial Management of San Francisco LLC increased its position in HomeStreet by 4.6% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,562,434 shares of the financial services provider’s stock valued at $24,624,000 after acquiring an additional 68,855 shares during the last quarter. Finally, Mendon Capital Advisors Corp lifted its holdings in HomeStreet by 21.0% in the second quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock valued at $4,138,000 after acquiring an additional 63,000 shares during the period. Institutional investors own 74.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. StockNews.com started coverage on shares of HomeStreet in a research report on Sunday, September 22nd. They set a “sell” rating for the company. Wedbush upgraded shares of HomeStreet from a “neutral” rating to an “outperform” rating and set a $12.00 target price for the company in a research report on Tuesday, November 5th. Finally, Janney Montgomery Scott downgraded shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Insider Activity at HomeStreet

In related news, CFO John Michel sold 8,000 shares of HomeStreet stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $11.26, for a total transaction of $90,080.00. Following the transaction, the chief financial officer now owns 28,409 shares in the company, valued at approximately $319,885.34. The trade was a 21.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joanne R. Harrell bought 2,146 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was purchased at an average cost of $11.65 per share, with a total value of $25,000.90. Following the acquisition, the director now directly owns 17,053 shares in the company, valued at $198,667.45. This trade represents a 14.40 % increase in their position. The disclosure for this purchase can be found here. 4.60% of the stock is currently owned by corporate insiders.

HomeStreet Stock Performance

Shares of HMST opened at $11.35 on Monday. The business has a 50-day simple moving average of $12.41 and a two-hundred day simple moving average of $12.91. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 3.94. HomeStreet, Inc. has a 52 week low of $8.09 and a 52 week high of $16.10. The stock has a market cap of $214.06 million, a price-to-earnings ratio of -8.73 and a beta of 1.49.

HomeStreet Company Profile

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.