Ameriprise Financial Inc. Acquires 165,842 Shares of HomeStreet, Inc. (NASDAQ:HMST)

Ameriprise Financial Inc. grew its holdings in HomeStreet, Inc. (NASDAQ:HMST) by 28.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 750,902 shares of the financial services provider’s stock after purchasing an additional 165,842 shares during the quarter. Ameriprise Financial Inc. owned approximately 3.98% of HomeStreet worth $8,575,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of HomeStreet by 7.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,222 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 1,136 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of HomeStreet by 66.1% in the 4th quarter. Russell Investments Group Ltd. now owns 3,181 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,266 shares during the last quarter. EMC Capital Management boosted its stake in HomeStreet by 20.8% during the 4th quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 1,484 shares during the last quarter. Wells Fargo & Company MN increased its stake in HomeStreet by 27.5% in the fourth quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 2,339 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of HomeStreet by 1.6% during the fourth quarter. Northern Trust Corp now owns 162,266 shares of the financial services provider’s stock worth $1,853,000 after purchasing an additional 2,615 shares in the last quarter. Institutional investors own 74.71% of the company’s stock.

HomeStreet Trading Up 0.5%

Shares of NASDAQ:HMST opened at $12.34 on Wednesday. HomeStreet, Inc. has a 12 month low of $8.09 and a 12 month high of $16.10. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.09. The company’s fifty day simple moving average is $10.99 and its 200 day simple moving average is $10.75. The firm has a market cap of $233.49 million, a price-to-earnings ratio of -1.61 and a beta of 1.34.

HomeStreet (NASDAQ:HMST) last issued its quarterly earnings data on Monday, April 28th. The financial services provider reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). HomeStreet had a negative return on equity of 4.23% and a negative net margin of 40.30%. The company had revenue of $85.77 million for the quarter, compared to analyst estimates of $46.61 million. As a group, research analysts forecast that HomeStreet, Inc. will post 0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

HMST has been the topic of a number of recent analyst reports. StockNews.com raised shares of HomeStreet from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Piper Sandler lifted their price target on shares of HomeStreet from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods lifted their price target on shares of HomeStreet from $12.00 to $13.50 and gave the stock a “market perform” rating in a research report on Wednesday, May 7th. Finally, Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating in a research report on Tuesday, April 1st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.00.

HomeStreet 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.