HomeStreet, Inc. (NASDAQ:HMST) Short Interest Update

HomeStreet, Inc. (NASDAQ:HMST) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 549,400 shares, a decline of 6.2% from the March 31st total of 586,000 shares. Approximately 3.2% of the company’s shares are sold short. Based on an average daily trading volume, of 204,800 shares, the short-interest ratio is presently 2.7 days.

HomeStreet Stock Performance

HMST opened at $12.25 on Wednesday. The firm has a market cap of $231.04 million, a P/E ratio of -8.39 and a beta of 1.32. HomeStreet has a 1-year low of $4.20 and a 1-year high of $15.82. The company has a 50 day simple moving average of $13.98 and a two-hundred day simple moving average of $10.92. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.11 and a quick ratio of 1.10.

HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, January 29th. The financial services provider reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.15). The business had revenue of $45.95 million for the quarter, compared to analysts’ expectations of $49.73 million. HomeStreet had a positive return on equity of 1.55% and a negative net margin of 6.23%. Equities analysts forecast that HomeStreet will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joanne R. Harrell acquired 1,685 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $14.87 per share, for a total transaction of $25,055.95. Following the acquisition, the director now owns 14,907 shares of the company’s stock, valued at $221,667.09. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.60% of the company’s stock.

Institutional Trading of HomeStreet

Hedge funds have recently bought and sold shares of the stock. Acuitas Investments LLC bought a new stake in HomeStreet in the 3rd quarter worth approximately $1,435,000. Allspring Global Investments Holdings LLC purchased a new stake in HomeStreet during the third quarter valued at $71,000. Assenagon Asset Management S.A. lifted its position in HomeStreet by 1,460.5% during the third quarter. Assenagon Asset Management S.A. now owns 184,013 shares of the financial services provider’s stock valued at $1,433,000 after purchasing an additional 172,221 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of HomeStreet in the 3rd quarter worth $84,000. Finally, Campbell & CO Investment Adviser LLC grew its stake in shares of HomeStreet by 135.0% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 32,827 shares of the financial services provider’s stock worth $256,000 after buying an additional 18,859 shares in the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com initiated coverage on HomeStreet in a research note on Wednesday. They issued a “sell” rating on the stock. Keefe, Bruyette & Woods increased their price objective on shares of HomeStreet from $11.00 to $15.50 and gave the company a “market perform” rating in a research report on Wednesday, January 17th. Finally, Wedbush upped their price objective on HomeStreet from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, HomeStreet has an average rating of “Hold” and an average target price of $12.17.

About HomeStreet

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services in the Western United States. The company offers personal and business checking, savings, interest-bearing negotiable order of withdrawal, and money market accounts, as well as certificates of deposit; credit cards; insurance; and treasury management services.