Jacobs Levy Equity Management Inc. Invests $2.70 Million in HomeStreet, Inc. (NASDAQ:HMST)

Jacobs Levy Equity Management Inc. bought a new position in shares of HomeStreet, Inc. (NASDAQ:HMST - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 236,747 shares of the financial services provider's stock, valued at approximately $2,704,000. Jacobs Levy Equity Management Inc. owned about 1.26% of HomeStreet as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of HomeStreet by 66.1% in 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 during the last quarter. Assetmark Inc. bought a new position in shares of HomeStreet during the fourth quarter worth about $40,000. EMC Capital Management grew its stake in HomeStreet by 20.8% in the fourth quarter. EMC Capital Management now owns 8,613 shares of the financial services provider's stock worth $98,000 after purchasing an additional 1,484 shares in the last quarter. Oxford Asset Management LLP acquired a new position in HomeStreet in the fourth quarter worth about $118,000. Finally, Wells Fargo & Company MN increased its holdings in HomeStreet by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider's stock valued at $124,000 after buying an additional 2,339 shares during the last quarter. 74.71% of the stock is owned by hedge funds and other institutional investors.

HomeStreet Stock Performance

NASDAQ HMST traded down $0.14 during trading hours on Wednesday, reaching $12.21. The company's stock had a trading volume of 5,311 shares, compared to its average volume of 156,742. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.09. The business has a 50-day simple moving average of $10.99 and a 200 day simple moving average of $10.75. HomeStreet, Inc. has a 52 week low of $8.09 and a 52 week high of $16.10. The stock has a market cap of $230.93 million, a PE ratio of -1.59 and a beta of 1.34.

HomeStreet (NASDAQ:HMST - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The financial services provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.08). The company had revenue of $85.77 million for the quarter, compared to analyst estimates of $46.61 million. HomeStreet had a negative net margin of 40.30% and a negative return on equity of 4.23%. Equities research analysts predict that HomeStreet, Inc. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HMST has been the topic of a number of research analyst reports. Janney Montgomery Scott raised HomeStreet from a "neutral" rating to a "buy" rating in a report on Tuesday, April 1st. StockNews.com raised HomeStreet from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Piper Sandler raised their price objective on HomeStreet from $10.00 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods boosted their target price 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.00.

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.