Gator Capital Management LLC Makes New $2.22 Million Investment in HomeStreet, Inc. $HMST

Key Points

• Gator Capital Management LLC has acquired a new stake in HomeStreet, Inc., purchasing 189,024 shares valued at approximately $2.22 million, representing about 1.00% of the company.
• HomeStreet's stock has seen a recent decline, currently priced at $13.19, with reported earnings showing a loss of ($0.16) EPS, missing analyst estimates.
• Brokerages have mixed views on HomeStreet, with target price adjustments ranging from $12.00 to $14.17 and most analysts rating the stock as a "hold."

Gator Capital Management LLC bought a new position in shares of HomeStreet, Inc. (NASDAQ:HMST - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 189,024 shares of the financial services provider's stock, valued at approximately $2,219,000. Gator Capital Management LLC owned about 1.00% of HomeStreet as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HMST. Stieven Capital Advisors L.P. acquired a new position in shares of HomeStreet in the 1st quarter valued at about $3,522,000. Basswood Capital Management L.L.C. acquired a new position in shares of HomeStreet in the 4th quarter valued at about $3,268,000. Wellington Management Group LLP lifted its stake in shares of HomeStreet by 37.0% in the 4th quarter. Wellington Management Group LLP now owns 919,278 shares of the financial services provider's stock valued at $10,498,000 after purchasing an additional 248,352 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of HomeStreet by 126.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 428,578 shares of the financial services provider's stock valued at $4,894,000 after purchasing an additional 239,219 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of HomeStreet in the 4th quarter valued at about $2,704,000. 74.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of HomeStreet from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods lifted their price target on shares of HomeStreet from $12.00 to $13.50 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.17.

HomeStreet Stock Performance

HomeStreet stock traded up $0.50 during trading on Tuesday, hitting $13.66. The stock had a trading volume of 148,045 shares, compared to its average volume of 128,712. The stock has a market cap of $258.46 million, a price-to-earnings ratio of -1.85 and a beta of 1.38. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 3.14. The stock's 50 day moving average is $12.95 and its two-hundred day moving average is $11.60. HomeStreet, Inc. has a 1 year low of $8.41 and a 1 year high of $16.10.

HomeStreet (NASDAQ:HMST - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The financial services provider reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.21). The business had revenue of $48.97 million for the quarter, compared to analysts' expectations of $49.96 million. HomeStreet had a negative net margin of 42.54% and a negative return on equity of 3.92%. As a group, analysts predict that HomeStreet, Inc. will post 0.3 EPS for the current 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.