HomeStreet Inc (NASDAQ:HMST) Short Interest Down 41.0% in September

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HomeStreet Inc (NASDAQ:HMST) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 314,100 shares, a decline of 41.0% from the August 30th total of 532,700 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 153,600 shares, the short-interest ratio is presently 2.0 days.

Shares of NASDAQ:HMST traded up $0.37 during trading hours on Friday, hitting $26.99. 86,918 shares of the company’s stock traded hands, compared to its average volume of 145,324. HomeStreet has a 1 year low of $20.50 and a 1 year high of $31.96. The business has a fifty day moving average price of $27.12 and a 200-day moving average price of $28.10. The firm has a market capitalization of $650.43 million, a P/E ratio of 18.24 and a beta of 0.66. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.94.

HomeStreet (NASDAQ:HMST) last announced its earnings results on Monday, July 22nd. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.41). The business had revenue of $69.02 million for the quarter, compared to analysts’ expectations of $65.59 million. HomeStreet had a net margin of 4.74% and a return on equity of 4.74%. During the same quarter last year, the firm earned $0.46 EPS. As a group, equities analysts predict that HomeStreet will post 1.19 earnings per share for the current year.

In other HomeStreet news, EVP Godfrey B. Evans bought 1,000 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was acquired at an average price of $28.48 per share, for a total transaction of $28,480.00. Following the completion of the transaction, the executive vice president now directly owns 46,432 shares of the company’s stock, valued at $1,322,383.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.64% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its holdings in shares of HomeStreet by 170.9% in the second quarter. Meeder Asset Management Inc. now owns 1,704 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,075 shares during the period. Quantamental Technologies LLC purchased a new stake in shares of HomeStreet in the second quarter valued at approximately $61,000. Bank of Montreal Can boosted its holdings in shares of HomeStreet by 92.4% in the second quarter. Bank of Montreal Can now owns 4,659 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 2,238 shares during the period. Aperio Group LLC purchased a new stake in shares of HomeStreet in the second quarter valued at approximately $263,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of HomeStreet in the second quarter valued at approximately $273,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Several research analysts have issued reports on HMST shares. Zacks Investment Research lowered HomeStreet from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine lowered HomeStreet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet lowered HomeStreet from a “b” rating to a “c+” rating in a research report on Monday, August 12th. DA Davidson upgraded HomeStreet from an “underperform” rating to a “neutral” rating and set a $27.00 target price for the company in a research report on Friday, August 16th. Finally, BidaskClub lowered HomeStreet from a “hold” rating to a “sell” rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $31.50.

About HomeStreet

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides commercial and consumer banking services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.

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