Hennessy Advisors Inc. Sells 5,000 Shares of HomeStreet, Inc. (NASDAQ:HMST)

Hennessy Advisors Inc. lessened its holdings in HomeStreet, Inc. (NASDAQ:HMST) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 200,000 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in HomeStreet were worth $3,010,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in HomeStreet by 167.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,284 shares of the financial services provider’s stock worth $26,000 after buying an additional 2,055 shares during the period. CWM LLC grew its stake in HomeStreet by 2,222.2% in the 4th quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 3,400 shares during the period. AJOVista LLC acquired a new stake in HomeStreet in the 4th quarter valued at $38,000. Tower Research Capital LLC TRC grew its stake in HomeStreet by 132.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 2,503 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in HomeStreet in the 4th quarter valued at $129,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $13.50 price objective on shares of HomeStreet in a report on Tuesday, June 18th. StockNews.com assumed coverage on HomeStreet in a report on Wednesday. They issued a “sell” rating on the stock. Finally, Janney Montgomery Scott upgraded HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective on the stock in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.00.

HomeStreet Trading Up 1.4 %

NASDAQ HMST traded up $0.15 during trading on Friday, hitting $11.21. The stock had a trading volume of 108,914 shares, compared to its average volume of 249,526. The company has a market capitalization of $211.42 million, a PE ratio of -5.19 and a beta of 1.33. 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 firm has a 50 day moving average price of $10.24 and a 200 day moving average price of $12.01. HomeStreet, Inc. has a twelve month low of $4.20 and a twelve month high of $15.82.

HomeStreet (NASDAQ:HMST) last released its earnings results on Tuesday, April 30th. The financial services provider reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.23). The firm had revenue of $41.61 million during the quarter, compared to analyst estimates of $48.07 million. HomeStreet had a negative net margin of 8.97% and a negative return on equity of 0.43%. As a group, equities research analysts forecast that HomeStreet, Inc. will post -0.8 earnings per share for the current year.

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.