Homestreet director Tompkins buys $57,462 in common stock By Investing.com

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Homestreet director Tompkins buys $57,462 in common stock

Published Dec 19, 2024 02:32

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Homestreet director Tompkins buys $57,462 in common stock

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SEATTLE—HomeStreet, Inc. (NASDAQ:HMST) director Sidney Craig Tompkins (NYSE:TMP) recently made a significant purchase of the company's common stock. According to a Form 4 filing with the Securities and Exchange Commission, Tompkins acquired 5,000 shares on December 17, 2024, at an average price of $11.4925 per share. The total value of the transaction amounted to approximately $57,462. The purchase comes as HomeStreet trades at a price-to-book ratio of 0.38, significantly below historical averages according to InvestingPro data.

Following this purchase, Tompkins holds 5,000 shares indirectly through a defined benefit plan, as noted in the filing. Additionally, Tompkins has direct ownership of 5,189 shares and indirect ownership of 500 shares via the Tompkins Family Trust, which is jointly controlled with his spouse, Jan Tompkins, and his brother-in-law, David W. Firth.

This acquisition reflects Tompkins' continued investment in HomeStreet, a Seattle-based state commercial bank. The transaction details were filed on December 18, 2024.

In other recent news, HomeStreet, a Washington-based commercial bank, has called off its merger agreement with FirstSun Capital Bancorp (NASDAQ:CBNK) and Dynamis Subsidiary, Inc. The termination of this significant agreement, first announced in January 2024, was mutually decided by all parties, as per an 8-K filing with the Securities and Exchange Commission. This decision marks a considerable departure from the strategic consolidation within the banking sector that had been projected earlier in 2024. The specifics of the mutual termination agreement can be found in the exhibit attached to the 8-K report. However, HomeStreet has not disclosed the reasons behind this move, and no financial terms or potential penalties associated with the termination of the merger agreement were revealed in the filing. These recent developments leave investors and stakeholders of both HomeStreet and FirstSun to ponder the implications of this strategic shift.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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