HomeStreet, Inc. (NASDAQ:HMST – Get Free Report) was the recipient of a large drop in short interest in August. As of August 15th, there was short interest totalling 530,200 shares, a drop of 11.6% from the July 31st total of 600,000 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 154,000 shares, the days-to-cover ratio is presently 3.4 days.
Analyst Ratings Changes
A number of equities analysts have commented on HMST shares. Keefe, Bruyette & Woods increased their target price on HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a report on Tuesday, July 30th. StockNews.com started coverage on HomeStreet in a research note on Thursday. They issued a “sell” rating for the company. Finally, Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 target price on the stock in a research note on Thursday, June 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, HomeStreet has a consensus rating of “Hold” and a consensus target price of $12.25.
Hedge Funds Weigh In On HomeStreet
HomeStreet Price Performance
Shares of HomeStreet stock traded up $0.43 on Monday, hitting $16.00. 94,500 shares of the company were exchanged, compared to its average volume of 215,118. HomeStreet has a 1-year low of $4.20 and a 1-year high of $16.00. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 4.06. The stock has a market capitalization of $301.76 million, a price-to-earnings ratio of -7.51 and a beta of 1.38. The company has a 50-day moving average price of $13.52 and a 200 day moving average price of $12.66.
HomeStreet (NASDAQ:HMST – Get Free Report) last issued its earnings results on Monday, July 29th. The financial services provider reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.01. HomeStreet had a negative return on equity of 1.87% and a negative net margin of 3.30%. The company had revenue of $114.35 million during the quarter, compared to analysts’ expectations of $43.33 million. As a group, sell-side analysts predict that HomeStreet will post -0.87 earnings per share for the current fiscal year.
HomeStreet Company Profile
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.
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