Wellington Management Group LLP Raises Stock Position in HomeStreet, Inc. (NASDAQ:HMST)

Wellington Management Group LLP boosted its stake in shares of HomeStreet, Inc. (NASDAQ:HMST - Free Report) by 37.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 919,278 shares of the financial services provider's stock after buying an additional 248,352 shares during the quarter. Wellington Management Group LLP owned approximately 4.86% of HomeStreet worth $10,498,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in HomeStreet during the 4th quarter valued at about $214,000. Northern Trust Corp lifted its holdings in HomeStreet by 1.6% during the 4th quarter. Northern Trust Corp now owns 162,266 shares of the financial services provider's stock valued at $1,853,000 after buying an additional 2,615 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in HomeStreet by 126.3% during 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 buying an additional 239,219 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in HomeStreet by 182.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 42,156 shares of the financial services provider's stock valued at $481,000 after buying an additional 27,214 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in HomeStreet by 40.0% during the 4th quarter. Jane Street Group LLC now owns 56,798 shares of the financial services provider's stock valued at $649,000 after buying an additional 16,226 shares in the last quarter. Institutional investors own 74.71% of the company's stock.

HomeStreet Stock Up 1.6%

NASDAQ HMST traded up $0.21 during trading on Friday, reaching $13.01. 38,396 shares of the company's stock traded hands, compared to its average volume of 154,883. The company has a debt-to-equity ratio of 3.09, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $246.16 million, a price-to-earnings ratio of -1.70 and a beta of 1.40. The company's 50 day simple moving average is $11.77 and its two-hundred day simple moving average is $10.90. HomeStreet, Inc. has a 12-month low of $8.09 and a 12-month high of $16.10.

HomeStreet (NASDAQ:HMST - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported ($0.15) EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $46.61 million. As a group, sell-side analysts forecast that HomeStreet, Inc. will post 0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of HomeStreet from $10.00 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods raised their target price on shares of HomeStreet from $12.00 to $13.50 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Wall Street Zen raised shares of HomeStreet from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Janney Montgomery Scott raised shares of HomeStreet from a "neutral" rating to a "buy" rating in a research report on Tuesday, April 1st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $14.00.

HomeStreet Company 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.