Kennedy Capital Management LLC Invests $3.72 Million in HomeStreet, Inc. (NASDAQ:HMST)

Kennedy Capital Management LLC bought a new position in HomeStreet, Inc. (NASDAQ:HMST) during the 1st quarter, HoldingsChannel.com reports. The fund bought 247,169 shares of the financial services provider’s stock, valued at approximately $3,720,000.

Several other institutional investors have also made changes to their positions in HMST. CWM LLC increased its position in shares of HomeStreet by 2,222.2% in the fourth quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 3,400 shares in the last quarter. AJOVista LLC purchased a new position in HomeStreet during the fourth quarter valued at approximately $38,000. Tower Research Capital LLC TRC grew its position in HomeStreet by 132.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 2,503 shares in the last quarter. SG Americas Securities LLC purchased a new position in HomeStreet during the fourth quarter valued at approximately $129,000. Finally, Quest Partners LLC purchased a new position in HomeStreet during the fourth quarter valued at approximately $151,000. 74.71% of the stock is owned by hedge funds and other institutional investors.

HomeStreet Stock Up 3.8 %

HMST stock traded up $0.53 during trading hours on Tuesday, hitting $14.40. The company’s stock had a trading volume of 217,870 shares, compared to its average volume of 235,549. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 4.40. The company has a market capitalization of $271.58 million, a PE ratio of -6.51 and a beta of 1.38. HomeStreet, Inc. has a 12 month low of $4.20 and a 12 month high of $15.82. The stock has a 50 day moving average price of $10.88 and a two-hundred day moving average price of $12.48.

HomeStreet (NASDAQ:HMST) last posted its earnings results on Monday, July 29th. The financial services provider reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.01. The company had revenue of $114.35 million during the quarter, compared to the consensus estimate of $43.33 million. HomeStreet had a negative net margin of 8.97% and a negative return on equity of 0.43%. On average, equities research analysts expect that HomeStreet, Inc. will post -0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HMST. Keefe, Bruyette & Woods boosted their price objective on shares of HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a research report on Tuesday. StockNews.com began coverage on shares of HomeStreet in a research report on Sunday. They set a “sell” rating on the stock. Finally, Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective on the stock in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.25.

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.