Hsbc Holdings PLC Purchases 17,264 Shares of HomeStreet, Inc. (NASDAQ:HMST)

Hsbc Holdings PLC boosted its position in HomeStreet, Inc. (NASDAQ:HMST – Get Rating) by 152.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,614 shares of the financial services provider’s stock after purchasing an additional 17,264 shares during the quarter. Hsbc Holdings PLC owned approximately 0.15% of HomeStreet worth $840,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in shares of HomeStreet during the second quarter valued at about $40,000. Lazard Asset Management LLC increased its holdings in shares of HomeStreet by 213.1% during the second quarter. Lazard Asset Management LLC now owns 2,398 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 1,632 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of HomeStreet by 12.6% during the third quarter. Mutual of America Capital Management LLC now owns 3,538 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 397 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of HomeStreet by 52.0% during the first quarter. Captrust Financial Advisors now owns 2,573 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 880 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of HomeStreet by 20.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,645 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 620 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors.

HomeStreet Price Performance

Shares of NASDAQ HMST opened at $24.89 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 2.21. HomeStreet, Inc. has a 52 week low of $22.44 and a 52 week high of $52.38. The business’s 50 day moving average price is $27.61 and its 200 day moving average price is $29.08. The firm has a market cap of $465.94 million, a P/E ratio of 7.15 and a beta of 0.99.

HomeStreet (NASDAQ:HMST – Get Rating) last released its quarterly earnings data on Friday, January 27th. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.32). HomeStreet had a return on equity of 11.59% and a net margin of 18.68%. The company had revenue of $65.36 million during the quarter, compared to analysts’ expectations of $69.40 million. On average, sell-side analysts expect that HomeStreet, Inc. will post 2.39 earnings per share for the current year.

HomeStreet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Shareholders of record on Wednesday, February 8th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, February 7th. This represents a $1.40 annualized dividend and a yield of 5.62%. HomeStreet’s dividend payout ratio is presently 40.23%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HMST. Keefe, Bruyette & Woods downgraded shares of HomeStreet from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $38.00 to $29.00 in a report on Tuesday, January 31st. StockNews.com upgraded HomeStreet from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Piper Sandler upgraded HomeStreet from an “underweight” rating to a “neutral” rating and upped their target price for the company from $24.00 to $28.00 in a research report on Wednesday, February 1st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.00.

HomeStreet Profile

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HomeStreet, Inc is a holding company, which engages in the provision of commercial and consumer banking and real estate lending services. It operates through the Commercial and Consumer Banking. The Commercial and Consumer Banking segment offers diversified financial products and services to its commercial and consumer customers through bank branches, and through automated teller machines (ATMs), online, mobile and telephone banking.