© Reuters.
HomeStreet, Inc. (NASDAQ:) Director Joanne R. Harrell recently acquired additional shares in the company, according to a new SEC filing. On March 15, Harrell purchased 1,684.636 shares of HomeStreet common stock, with the total transaction amounting to approximately $25,051.
The acquisition was made at a weighted average price of $14.8707 per share, with individual transactions occurring at prices ranging from $14.855 to $14.91. Following this purchase, Harrell now directly owns 14,906.636 shares of the company.
Investors often monitor insider transactions as they can provide insights into how the company’s leadership perceives the firm’s value and prospects. Harrell’s role as a director, combined with her decision to increase her stake in HomeStreet, might be interpreted by the market as a sign of confidence in the bank’s future performance.
HomeStreet, Inc., based in Seattle, Washington, operates as a financial services company through its subsidiary, HomeStreet Bank. The bank offers a range of banking and financial products and services to consumers and businesses.
The disclosure of this transaction provides transparency to HomeStreet shareholders and the broader investment community. It should be noted that the details provided in the SEC filing are standard for such disclosures and do not necessarily indicate any specific financial trend or change in company performance.
Investors and analysts who track HomeStreet, Inc. will likely consider this purchase alongside other market data and company developments when evaluating their positions in the company’s stock.
InvestingPro Insights
Following the recent insider share acquisition by HomeStreet, Inc. (NASDAQ:HMST) Director Joanne R. Harrell, market participants are keen to understand the underlying financial health and future prospects of the company. Insights from InvestingPro reveal a mixed financial picture that investors may find informative.
HomeStreet’s market capitalization stands at $275.13 million, reflecting the size of the company in the financial sector. Despite the challenges, analysts on InvestingPro anticipate a turnaround, predicting that the company will be profitable this year, which aligns with the positive sentiment that may be inferred from the director’s share purchase. A significant InvestingPro Tip to note is the strong return over the last three months, with a 53.43% price total return, which could be indicative of growing investor confidence.
However, it is crucial to consider the company’s current Price-to-Earnings (P/E) Ratio of -9.95, indicating that the company has not been profitable over the last twelve months. The adjusted P/E ratio for the same period paints a different picture at 45.64, which suggests that when one-time charges and credits are excluded, the company’s earnings might be on a more stable footing. Additionally, the Price/Book ratio stands at a modest 0.51, potentially signaling that the stock is undervalued compared to the company’s book value.
Investors looking for dividends might need to look elsewhere, as HomeStreet does not currently pay a dividend to shareholders, an important consideration for those seeking passive income streams. For those interested in a deeper analysis, InvestingPro offers more comprehensive metrics and additional InvestingPro Tips for HomeStreet, which can be accessed through their platform. There are currently 8 more tips available, which could provide further guidance on the company’s financial health and stock performance.
To gain full access to these insights and more, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. This offer could be particularly valuable for investors who wish to closely follow HomeStreet’s performance and make informed investment decisions.
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