Charles Schwab Investment Management Inc. Has $2.92 Million Holdings in HomeStreet, Inc. $HMST

Key Points

• Charles Schwab Investment Management Inc. sold 33,682 shares of HomeStreet, Inc., reducing its stake by 11.9% to approximately 1.31% of the company, worth about $2.9 million.
• Several institutional investors increased their positions in HomeStreet, with D. E. Shaw & Co. Inc. showing a significant increase of 126.3% in the fourth quarter.
• HomeStreet reported a loss of $0.16 per share in its latest quarterly earnings, missing analysts' expectations, and had a negative net margin of 42.54%.

Charles Schwab Investment Management Inc. decreased its holdings in HomeStreet, Inc. (NASDAQ:HMST - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 248,468 shares of the financial services provider's stock after selling 33,682 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.31% of HomeStreet worth $2,917,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of HMST. Wells Fargo & Company MN grew its stake in shares of HomeStreet by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider's stock worth $124,000 after purchasing an additional 2,339 shares in the last quarter. Barclays PLC grew its stake in shares of HomeStreet by 15.0% in the fourth quarter. Barclays PLC now owns 27,531 shares of the financial services provider's stock worth $315,000 after purchasing an additional 3,594 shares in the last quarter. First Trust Advisors LP bought a new position in shares of HomeStreet in the fourth quarter worth $148,000. Dimensional Fund Advisors LP grew its stake in shares of HomeStreet by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 631,996 shares of the financial services provider's stock worth $7,217,000 after purchasing an additional 18,092 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of HomeStreet by 7.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,222 shares of the financial services provider's stock worth $186,000 after purchasing an additional 1,136 shares in the last quarter. Institutional investors own 74.71% of the company's stock.

HomeStreet Trading Up 1.8%

Shares of NASDAQ:HMST traded up $0.25 during midday trading on Wednesday, reaching $13.87. The company had a trading volume of 292,884 shares, compared to its average volume of 143,074. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.02 and a current ratio of 1.03. HomeStreet, Inc. has a 1-year low of $8.41 and a 1-year high of $16.10. The firm has a market cap of $262.33 million, a price-to-earnings ratio of -1.87 and a beta of 1.40. The company has a fifty day simple moving average of $13.25 and a two-hundred day simple moving average of $11.86.

HomeStreet (NASDAQ:HMST - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The financial services provider reported ($0.16) earnings per share 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 company had revenue of $48.97 million during the quarter, compared to analyst estimates of $49.96 million. Research analysts predict that HomeStreet, Inc. will post 0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their target price on HomeStreet from $12.00 to $13.50 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $14.17.

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.