Wellington Management Group LLP Purchases 557,977 Shares of HomeStreet, Inc. (NASDAQ:HMST)

Wellington Management Group LLP lifted its holdings in HomeStreet, Inc. (NASDAQ:HMST) by 494.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 670,926 shares of the financial services provider’s stock after purchasing an additional 557,977 shares during the quarter. Wellington Management Group LLP’s holdings in HomeStreet were worth $10,574,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in shares of HomeStreet by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after purchasing an additional 28,874 shares during the period. Stieven Capital Advisors L.P. bought a new stake in HomeStreet in the third quarter worth $5,358,000. Hotchkis & Wiley Capital Management LLC purchased a new position in HomeStreet during the third quarter worth $2,633,000. Mendon Capital Advisors Corp increased 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 acquiring an additional 63,000 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of HomeStreet by 23.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 2,703 shares during the period. Institutional investors own 74.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HMST. Wedbush raised shares of 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. StockNews.com began coverage on HomeStreet in a report on Sunday, September 22nd. They issued a “sell” rating on the stock. Finally, Janney Montgomery Scott downgraded HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

Insider Activity at HomeStreet

In other news, CFO John Michel sold 8,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Godfrey B. Evans sold 4,636 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $11.55, for a total transaction of $53,545.80. Following the transaction, the executive vice president now owns 67,049 shares in the company, valued at approximately $774,415.95. This represents a 6.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.

HomeStreet Price Performance

Shares of HMST stock opened at $11.35 on Monday. The company has a market capitalization of $214.06 million, a P/E ratio of -8.73 and a beta of 1.49. The company’s 50-day simple moving average is $12.41 and its two-hundred day simple moving average is $12.91. HomeStreet, Inc. has a one year low of $8.09 and a one year high of $16.10. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.15 and a quick ratio of 1.15.

HomeStreet Company 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.