Hotchkis & Wiley Capital Management LLC Takes Position in HomeStreet, Inc. (NASDAQ:HMST)

Hotchkis & Wiley Capital Management LLC acquired a new position in shares of HomeStreet, Inc. (NASDAQ:HMST) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 167,100 shares of the financial services provider’s stock, valued at approximately $2,633,000. Hotchkis & Wiley Capital Management LLC owned approximately 0.89% of HomeStreet as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Endeavour Capital Advisors Inc. increased its holdings in shares of HomeStreet by 113.6% in the second quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock worth $8,051,000 after purchasing an additional 375,581 shares during the period. Stieven Capital Advisors L.P. bought a new stake in HomeStreet during the third quarter valued at approximately $5,358,000. Mendon Capital Advisors Corp lifted its position in HomeStreet by 21.0% during the second quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock valued at $4,138,000 after purchasing an additional 63,000 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in HomeStreet in the 2nd quarter worth approximately $410,000. Finally, Quest Partners LLC increased its holdings in shares of HomeStreet by 2,941,900.0% in the 3rd quarter. Quest Partners LLC now owns 29,420 shares of the financial services provider’s stock worth $464,000 after buying an additional 29,419 shares during the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Insider Buying and Selling at HomeStreet

In other HomeStreet news, CFO John Michel sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $11.26, for a total value of $90,080.00. Following the completion of the sale, the chief financial officer now owns 28,409 shares in the company, valued at approximately $319,885.34. The trade was a 21.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joanne R. Harrell bought 2,146 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was purchased at an average price of $11.65 per share, for a total transaction of $25,000.90. Following the acquisition, the director now directly owns 17,053 shares of the company’s stock, valued at approximately $198,667.45. The trade was a 14.40 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.60% of the company’s stock.

HomeStreet Price Performance

HMST stock opened at $11.62 on Friday. The firm has a market cap of $219.15 million, a P/E ratio of -8.94 and a beta of 1.49. The firm’s fifty day moving average is $12.79 and its 200 day moving average is $12.79. HomeStreet, Inc. has a 52 week low of $7.20 and a 52 week high of $16.10. The company has a debt-to-equity ratio of 3.94, a quick ratio of 1.15 and a current ratio of 1.15.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HMST shares. StockNews.com began coverage on shares of HomeStreet in a research report on Sunday, September 22nd. They issued a “sell” rating for the company. Janney Montgomery Scott lowered HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Wedbush upgraded HomeStreet from a “neutral” rating to an “outperform” rating and set a $12.00 price objective on the stock in a research report on Tuesday, November 5th.

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.