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

HomeStreet, Inc. (NASDAQ:HMST) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 274,200 shares, a decrease of 11.8% from the October 15th total of 311,000 shares. Based on an average trading volume of 126,400 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.5% of the shares of the stock are sold short.

HomeStreet Trading Down 3.1 %

HMST stock traded down $0.35 during midday trading on Monday, reaching $11.08. The company’s stock had a trading volume of 102,507 shares, compared to its average volume of 197,496. HomeStreet has a 1 year low of $5.98 and a 1 year high of $16.10. The firm has a market capitalization of $208.95 million, a price-to-earnings ratio of -8.52 and a beta of 1.42. The stock has a fifty day simple moving average of $13.75 and a two-hundred day simple moving average of $12.69. The company has a debt-to-equity ratio of 3.94, a quick ratio of 1.14 and a current ratio of 1.15.

Insider Activity

In related news, Director Paulette Lemon sold 2,401 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $15.59, for a total value of $37,431.59. Following the completion of the transaction, the director now owns 16,923 shares of the company’s stock, valued at approximately $263,829.57. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in HomeStreet by 10.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock valued at $218,000 after buying an additional 1,354 shares during the period. Kennedy Capital Management LLC bought a new stake in shares of HomeStreet during the first quarter valued at approximately $3,720,000. EMC Capital Management boosted its holdings in shares of HomeStreet by 16.2% in the first quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,201 shares during the period. Bank of New York Mellon Corp grew its stake in HomeStreet by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock worth $809,000 after purchasing an additional 3,113 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in HomeStreet by 4.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after purchasing an additional 28,874 shares during the period. 74.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HMST. Wedbush upgraded HomeStreet from a “neutral” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods boosted their price objective on shares of HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com started coverage on shares of HomeStreet in a report on Sunday, September 22nd. They issued a “sell” rating for the company. Finally, Janney Montgomery Scott downgraded shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th.

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.