Virginia Retirement Systems ET AL acquired a new stake in shares of HomeStreet Inc. (NASDAQ:HMST) during the second quarter, Holdings Channel reports. The institutional investor acquired 34,400 shares of the company’s stock, valued at approximately $685,000. Virginia Retirement Systems ET AL owned approximately 0.14% of HomeStreet at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in HomeStreet during the second quarter worth $162,000. Salzhauer Michael purchased a new stake in HomeStreet during the second quarter worth $277,000. Metropolitan Life Insurance Co. NY increased its stake in HomeStreet by 3.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 16,041 shares of the company’s stock worth $334,000 after buying an additional 562 shares in the last quarter. Prudential Financial Inc. purchased a new stake in HomeStreet during the first quarter worth $341,000. Finally, Mendon Capital Advisors Corp purchased a new stake in HomeStreet during the second quarter worth $447,000. 72.75% of the stock is owned by institutional investors.
HomeStreet Inc. (NASDAQ:HMST) opened at 25.34 on Tuesday. HomeStreet Inc. has a 12-month low of $18.58 and a 12-month high of $27.21. The firm’s 50 day moving average price is $25.21 and its 200-day moving average price is $22.10. The company has a market capitalization of $629.09 million, a PE ratio of 12.66 and a beta of 0.10.
HomeStreet (NASDAQ:HMST) last issued its quarterly earnings results on Monday, July 25th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.22. HomeStreet had a return on equity of 10.01% and a net margin of 9.50%. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, equities analysts anticipate that HomeStreet Inc. will post $2.27 earnings per share for the current fiscal year.
HMST has been the subject of a number of recent analyst reports. FBR & Co reissued a “buy” rating and set a $29.00 target price on shares of HomeStreet in a research report on Wednesday, July 27th. Zacks Investment Research downgraded shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, DA Davidson downgraded shares of HomeStreet from a “buy” rating to a “neutral” rating and increased their target price for the company from $27.00 to $29.00 in a research report on Friday, September 9th.
HomeStreet, Inc is a financial services company serving customers primarily in the western United States, including Hawaii. The Company is principally engaged in real estate lending, including mortgage banking activities, and commercial and consumer banking. Its operating segments include Commercial and Consumer Banking, and Mortgage Banking.
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