Gator Capital Management LLC Takes Position 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 stake in HomeStreet, Inc. (NASDAQ:HMST - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 189,024 shares of the financial services provider's stock, valued at approximately $2,219,000. Gator Capital Management LLC owned approximately 1.00% of HomeStreet at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in shares of HomeStreet by 1,067.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 21,627 shares of the financial services provider's stock worth $247,000 after buying an additional 19,775 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in HomeStreet in the first quarter valued at approximately $300,000. Janney Montgomery Scott LLC acquired a new stake in HomeStreet during the first quarter worth approximately $135,000. Bank of America Corp DE raised its holdings in HomeStreet by 15.3% in the 4th quarter. Bank of America Corp DE now owns 19,934 shares of the financial services provider's stock valued at $228,000 after acquiring an additional 2,643 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in shares of HomeStreet by 50.0% during the 1st quarter. Hennessy Advisors Inc. now owns 105,000 shares of the financial services provider's stock worth $1,233,000 after buying an additional 35,000 shares in the last quarter. Institutional investors own 74.71% of the company's stock.

Wall Street Analyst Weigh In

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

HomeStreet Price Performance

HMST traded up $0.1250 during trading on Wednesday, reaching $13.7850. 20,314 shares of the company traded hands, compared to its average volume of 128,015. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market cap of $260.81 million, a P/E ratio of -1.86 and a beta of 1.38. HomeStreet, Inc. has a 12-month low of $8.41 and a 12-month high of $16.10. The firm has a fifty day simple moving average of $12.96 and a 200 day simple moving average of $11.61.

HomeStreet (NASDAQ:HMST - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The financial services provider reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.21). HomeStreet had a negative net margin of 42.54% and a negative return on equity of 3.92%. The business had revenue of $48.97 million for the quarter, compared to analysts' expectations of $49.96 million. On average, equities analysts forecast 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.