Philadelphia Financial Management of San Francisco LLC Raises Stake in HomeStreet, Inc. (NASDAQ:HMST)

Philadelphia Financial Management of San Francisco LLC increased its stake in shares of HomeStreet, Inc. (NASDAQ:HMST) by 4.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,562,434 shares of the financial services provider’s stock after acquiring an additional 68,855 shares during the quarter. HomeStreet comprises 3.9% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 2nd biggest position. Philadelphia Financial Management of San Francisco LLC owned 0.08% of HomeStreet worth $24,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Squarepoint Ops LLC bought a new stake in shares of HomeStreet during the second quarter worth approximately $122,000. Vanguard Personalized Indexing Management LLC boosted its stake in HomeStreet by 23.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 2,703 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in HomeStreet by 10.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock valued at $218,000 after buying an additional 1,354 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in HomeStreet during the 2nd quarter worth $410,000. Finally, Quest Partners LLC lifted its holdings in shares of HomeStreet by 2,941,900.0% during the third quarter. Quest Partners LLC now owns 29,420 shares of the financial services provider’s stock worth $464,000 after buying an additional 29,419 shares in the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on HMST. Wedbush upgraded shares of HomeStreet from a “neutral” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Tuesday, November 5th. StockNews.com assumed coverage on shares of HomeStreet in a report on Sunday, September 22nd. They set a “sell” rating on the stock. Finally, Janney Montgomery Scott cut HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

Insider Buying and Selling

In other news, CFO John Michel sold 8,000 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $11.26, for a total transaction of $90,080.00. Following the completion of the sale, the chief financial officer now directly owns 28,409 shares in the company, valued at $319,885.34. This represents a 21.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joanne R. Harrell bought 2,146 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was purchased at an average price of $11.65 per share, for a total transaction of $25,000.90. Following the acquisition, the director now owns 17,053 shares of the company’s stock, valued at $198,667.45. This trade represents a 14.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.60% of the stock is owned by corporate insiders.

HomeStreet Stock Up 2.0 %

Shares of NASDAQ HMST opened at $12.17 on Wednesday. The company has a 50 day simple moving average of $12.99 and a 200 day simple moving average of $12.79. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.15 and a quick ratio of 1.15. HomeStreet, Inc. has a 1 year low of $7.16 and a 1 year high of $16.10. The firm has a market cap of $229.50 million, a PE ratio of -9.36 and a beta of 1.48.

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.