Basswood Capital Management L.L.C. Takes $3.27 Million Position in HomeStreet, Inc. (NASDAQ:HMST)

Basswood Capital Management L.L.C. bought a new stake in shares of HomeStreet, Inc. (NASDAQ:HMST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 286,130 shares of the financial services provider's stock, valued at approximately $3,268,000. Basswood Capital Management L.L.C. owned 1.52% of HomeStreet as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HMST. Russell Investments Group Ltd. raised its position in shares of HomeStreet by 66.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,181 shares of the financial services provider's stock valued at $36,000 after buying an additional 1,266 shares in the last quarter. Assetmark Inc. bought a new stake in HomeStreet in the fourth quarter worth $40,000. EMC Capital Management raised its holdings in HomeStreet by 20.8% in the 4th quarter. EMC Capital Management now owns 8,613 shares of the financial services provider's stock worth $98,000 after acquiring an additional 1,484 shares during the last quarter. Oxford Asset Management LLP purchased a new stake in HomeStreet in the fourth quarter worth approximately $118,000. Finally, Wells Fargo & Company MN grew its position in HomeStreet by 27.5% during the fourth quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider's stock valued at $124,000 after buying an additional 2,339 shares during the period. 74.71% of the stock is currently owned by institutional investors.

HomeStreet Stock Down 0.9 %

Shares of HMST traded down $0.11 during mid-day trading on Friday, hitting $12.09. 27,605 shares of the company traded hands, compared to its average volume of 156,693. The company has a market capitalization of $228.75 million, a PE ratio of -1.58 and a beta of 1.34. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.09. The business has a 50 day moving average of $10.45 and a 200 day moving average of $10.78. HomeStreet, Inc. has a 1-year low of $8.09 and a 1-year high of $16.10.

HomeStreet (NASDAQ:HMST - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). The firm had revenue of $85.77 million for the quarter, compared to analysts' expectations of $46.61 million. HomeStreet had a negative return on equity of 4.23% and a negative net margin of 40.30%. Equities research analysts anticipate that HomeStreet, Inc. will post 0.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Janney Montgomery Scott upgraded shares of HomeStreet from a "neutral" rating to a "buy" rating in a research note on Tuesday, April 1st. Piper Sandler upped their price target on shares of HomeStreet from $10.00 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods boosted their target price on HomeStreet from $12.00 to $13.50 and gave the company a "market perform" rating in a research report on Wednesday. Finally, StockNews.com upgraded HomeStreet from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $14.00.

HomeStreet 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.