Hennessy Advisors Inc. Increases Stock Position in HomeStreet, Inc. (NASDAQ:HMST)

Hennessy Advisors Inc. raised its stake in shares of HomeStreet, Inc. (NASDAQ:HMST - Free Report) by 50.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 105,000 shares of the financial services provider's stock after buying an additional 35,000 shares during the period. Hennessy Advisors Inc. owned about 0.55% of HomeStreet worth $1,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acuitas Investments LLC boosted its holdings in shares of HomeStreet by 1.1% in the fourth quarter. Acuitas Investments LLC now owns 336,308 shares of the financial services provider's stock worth $3,841,000 after buying an additional 3,619 shares during the last quarter. Proficio Capital Partners LLC bought a new position in HomeStreet in the fourth quarter worth approximately $214,000. Assetmark Inc. purchased a new position in shares of HomeStreet during the 4th quarter worth $40,000. Sei Investments Co. bought a new stake in shares of HomeStreet during the 4th quarter valued at $131,000. Finally, JPMorgan Chase & Co. grew its position in shares of HomeStreet by 189.0% during the 4th quarter. JPMorgan Chase & Co. now owns 68,817 shares of the financial services provider's stock valued at $786,000 after acquiring an additional 45,003 shares during the period. 74.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

HMST has been the topic of several analyst reports. Wall Street Zen upgraded HomeStreet from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Janney Montgomery Scott raised HomeStreet from a "neutral" rating to a "buy" rating in a research note on Tuesday, April 1st. Piper Sandler boosted their price objective on HomeStreet from $10.00 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of HomeStreet from $12.00 to $13.50 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, HomeStreet currently has a consensus rating of "Hold" and a consensus target price of $14.00.

HomeStreet Price Performance

HMST stock traded down $0.10 during trading on Monday, reaching $12.16. The company's stock had a trading volume of 28,603 shares, compared to its average volume of 147,581. 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 company's fifty day moving average is $11.90 and its 200-day moving average is $10.93. The company has a market capitalization of $230.08 million, a P/E ratio of -1.59 and a beta of 1.40. 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 issued 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). HomeStreet had a negative net margin of 40.30% and a negative return on equity of 4.23%. The business had revenue of $85.77 million for the quarter, compared to the consensus estimate of $46.61 million. On average, research analysts expect that HomeStreet, Inc. will post 0.3 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.