Verition Fund Management LLC Trims Holdings in HomeStreet, Inc. (NASDAQ:HMST)

Verition Fund Management LLC decreased its position in shares of HomeStreet, Inc. (NASDAQ:HMST) by 26.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 126,092 shares of the financial services provider’s stock after selling 44,577 shares during the period. Verition Fund Management LLC’s holdings in HomeStreet were worth $1,987,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 during the period. Bank of New York Mellon Corp boosted its stake in HomeStreet by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock valued at $809,000 after acquiring an additional 3,113 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of HomeStreet by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock valued at $7,299,000 after purchasing an additional 28,874 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of HomeStreet by 23.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 2,703 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in HomeStreet during the 2nd quarter worth $122,000. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Analyst Upgrades and Downgrades

HMST has been the topic of several recent research reports. StockNews.com began coverage on shares of HomeStreet in a research note on Sunday, September 22nd. They issued a “sell” rating on the stock. Janney Montgomery Scott downgraded HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, 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 report on Tuesday, November 5th.

HomeStreet Price Performance

HMST stock opened at $11.76 on Friday. The firm has a market cap of $221.79 million, a P/E ratio of -9.05 and a beta of 1.49. The stock has a 50-day simple moving average of $12.87 and a 200-day simple moving average of $12.78. HomeStreet, Inc. has a 1 year low of $7.20 and a 1 year high of $16.10. The company has a debt-to-equity ratio of 3.94, a quick ratio of 1.15 and a current ratio of 1.15.

Insider Buying and Selling at HomeStreet

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

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.