SEATTLE—David L. Parr, Executive Vice President and Director of Commercial Banking at HomeStreet, Inc. (NASDAQ:HMST), a bank with a market capitalization of $204 million, sold 5,210 shares of the company's common stock on December 18, 2024. The shares were sold at a weighted average price of $11.5349, totaling approximately $60,096. The transaction comes as HomeStreet trades at a notably low Price/Book ratio of 0.38, according to InvestingPro data.
Following this transaction, Parr no longer holds shares directly. However, he retains an indirect interest of 2,312.333 shares through HomeStreet, Inc.'s 401(k) Savings Plan, as of December 17, 2024. The stock currently trades near $10.81, between its 52-week range of $8.09 to $16.10. For comprehensive insider trading analysis and additional financial insights, consider exploring InvestingPro, which offers 8 more key investment tips for HomeStreet.
In other recent news, HomeStreet, a Washington-based commercial bank, has ended its merger agreement with FirstSun Capital Bancorp (NASDAQ:CBNK) and Dynamis Subsidiary, Inc., as reported in an 8-K filing with the Securities and Exchange Commission. This termination of the agreement, first announced in January 2024, was mutually agreed upon by all parties involved. The specifics of the mutual termination agreement can be found in the exhibit attached to the report.
The reasons for the termination of the merger agreement were not disclosed by HomeStreet. This decision represents a significant departure from the strategic consolidation within the banking sector that was anticipated earlier in 2024. The financial terms or any potential penalties associated with the termination of the merger agreement were not disclosed in the 8-K filing.
These are the recent developments for HomeStreet. The termination of the merger agreement with FirstSun Capital Bancorp marks a shift in strategy for the company. The details surrounding the termination are confined to the formal documentation provided in the 8-K filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.