SEATTLE—Darrell van Amen, Executive Vice President and Chief Investment Officer of HomeStreet, Inc. (NASDAQ:HMST), recently sold 4,541 shares of the company's common stock. The transaction, which took place on December 18, 2024, was executed at a price of $11.67 per share, totaling approximately $52,993. The sale comes as HomeStreet's stock, currently trading at $10.81, shows high price volatility according to InvestingPro data.
Following this transaction, van Amen holds 76,501 shares directly. Additionally, his spouse, Jeanie van Amen, owns 3,000 shares indirectly, though Mr. van Amen disclaims beneficial ownership of these shares except to the extent of any pecuniary interest he may have. The company, with a market capitalization of $204.23 million, trades at a notably low Price/Book ratio of 0.38.
This sale is part of the ongoing financial activities of HomeStreet's executives, reflecting their personal financial strategies. HomeStreet, Inc., headquartered in Seattle, is a financial services company operating primarily in the state commercial banking sector. InvestingPro analysis reveals concerning trends in the company's financial health, with additional insights available to subscribers.
In other recent news, HomeStreet, a Washington-based commercial bank, has terminated its merger agreement with FirstSun Capital Bancorp (NASDAQ:CBNK) and Dynamis Subsidiary, Inc. This development, as per an 8-K filing with the Securities and Exchange Commission, was mutually agreed upon by all parties involved. The termination of this material definitive agreement, which was originally announced on January 16, 2024, signifies a notable shift from the previously planned consolidation within the banking sector. The specifics of the mutual termination agreement can be referenced in the exhibit attached to the report. It is noteworthy that the reasons behind the termination of the merger agreement have not been disclosed by HomeStreet. Furthermore, financial terms or any potential penalties associated with the termination of the merger agreement were not disclosed in the 8-K filing. These recent developments leave investors and stakeholders of HomeStreet and FirstSun to consider the implications of this change in strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.