HomeStreet, Inc. (NASDAQ:HMST) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its holdings in HomeStreet, Inc. (NASDAQ:HMST) by 41.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the financial services provider’s stock after selling 50,000 shares during the period. Hennessy Advisors Inc. owned about 0.37% of HomeStreet worth $799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in HomeStreet by 494.0% during the third quarter. Wellington Management Group LLP now owns 670,926 shares of the financial services provider’s stock worth $10,574,000 after buying an additional 557,977 shares in the last quarter. Endeavour Capital Advisors Inc. grew its holdings in shares of HomeStreet by 113.6% in the 2nd quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock worth $8,051,000 after acquiring an additional 375,581 shares during the last quarter. Stieven Capital Advisors L.P. acquired a new stake in shares of HomeStreet during the third quarter worth $5,358,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of HomeStreet during the third quarter valued at $2,633,000. Finally, Philadelphia Financial Management of San Francisco LLC boosted its position in shares of HomeStreet by 4.6% in the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,562,434 shares of the financial services provider’s stock valued at $24,624,000 after purchasing an additional 68,855 shares during the period. 74.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP David L. Parr sold 5,210 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $11.53, for a total transaction of $60,071.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sidney Craig Tompkins purchased 5,000 shares of HomeStreet stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average price of $11.49 per share, with a total value of $57,450.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at $57,450. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 17,846 shares of company stock worth $203,697 in the last quarter. 4.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HMST. StockNews.com started coverage on shares of HomeStreet in a research note on Sunday, September 22nd. They set a “sell” rating for the company. Janney Montgomery Scott lowered shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Wedbush boosted their target price on shares of HomeStreet from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th.

HomeStreet Stock Performance

HMST stock opened at $10.84 on Friday. The firm has a 50 day simple moving average of $11.17 and a 200 day simple moving average of $13.06. 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 $204.44 million, a P/E ratio of -8.34 and a beta of 1.48. The company has a debt-to-equity ratio of 3.94, a quick ratio of 1.15 and a current ratio of 1.15.

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.