Acuitas Investments LLC Buys 46,991 Shares of HomeStreet, Inc. (NASDAQ:HMST)

Acuitas Investments LLC lifted its position in HomeStreet, Inc. (NASDAQ:HMST - Free Report) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,299 shares of the financial services provider's stock after buying an additional 46,991 shares during the period. HomeStreet comprises 3.8% of Acuitas Investments LLC's holdings, making the stock its largest position. Acuitas Investments LLC owned 2.03% of HomeStreet worth $4,500,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HMST. Price T Rowe Associates Inc. MD increased its position in shares of HomeStreet by 7.5% during 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 acquiring an additional 1,136 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in HomeStreet by 66.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,181 shares of the financial services provider's stock worth $36,000 after purchasing an additional 1,266 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of HomeStreet by 27.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider's stock valued at $124,000 after purchasing an additional 2,339 shares during the period. Northern Trust Corp lifted its holdings in shares of HomeStreet by 1.6% in the fourth quarter. Northern Trust Corp now owns 162,266 shares of the financial services provider's stock valued at $1,853,000 after purchasing an additional 2,615 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of HomeStreet by 15.3% in the fourth quarter. Bank of America Corp DE now owns 19,934 shares of the financial services provider's stock valued at $228,000 after purchasing an additional 2,643 shares in the last quarter. Institutional investors and hedge funds own 74.71% of the company's stock.

Wall Street Analyst Weigh In

HMST has been the topic of several research reports. Wall Street Zen upgraded HomeStreet from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Janney Montgomery Scott raised shares of HomeStreet from a "neutral" rating to a "buy" rating in a research report on Tuesday, April 1st. 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. Finally, Piper Sandler upped their target price on HomeStreet from $10.00 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, HomeStreet presently has a consensus rating of "Hold" and a consensus price target of $14.17.

HomeStreet Stock Performance

HMST stock traded up $0.31 during trading hours on Friday, reaching $13.40. The stock had a trading volume of 48,837 shares, compared to its average volume of 141,681. The stock has a 50-day simple moving average of $12.41 and a 200 day simple moving average of $11.04. HomeStreet, Inc. has a fifty-two week low of $8.41 and a fifty-two week high of $16.10. The stock has a market capitalization of $253.53 million, a PE ratio of -1.79 and a beta of 1.38. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.02 and a quick ratio of 1.02.

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). The firm had revenue of $85.77 million during the quarter, compared to analyst estimates of $46.61 million. HomeStreet had a negative net margin of 41.07% and a negative return on equity of 3.95%. Analysts predict that HomeStreet, Inc. will post 0.3 EPS 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.