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

HomeStreet, Inc. (NASDAQ:HMST) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 419,800 shares, a growth of 53.1% from the October 31st total of 274,200 shares. Based on an average daily trading volume, of 147,900 shares, the days-to-cover ratio is currently 2.8 days. Currently, 2.4% of the company’s shares are sold short.

HomeStreet Price Performance

Shares of NASDAQ:HMST traded up $0.42 on Friday, reaching $11.88. 123,048 shares of the company were exchanged, compared to its average volume of 222,043. The company has a 50-day moving average of $13.09 and a 200-day moving average of $12.74. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 3.94. The firm has a market cap of $224.06 million, a price-to-earnings ratio of -9.14 and a beta of 1.42. HomeStreet has a 1-year low of $6.48 and a 1-year high of $16.10.

Insider Activity

In related news, Director Joanne R. Harrell purchased 2,146 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were bought at an average price of $11.65 per share, for a total transaction of $25,000.90. Following the acquisition, the director now directly owns 17,053 shares in the company, valued at $198,667.45. This trade represents a 14.40 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO John Michel sold 8,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $11.26, for a total value of $90,080.00. Following the transaction, the chief financial officer now directly owns 28,409 shares of the company’s stock, valued at approximately $319,885.34. This represents a 21.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Philadelphia Financial Management of San Francisco LLC raised its holdings in HomeStreet by 4.6% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,562,434 shares of the financial services provider’s stock worth $24,624,000 after purchasing an additional 68,855 shares during the last quarter. Endeavour Capital Advisors Inc. raised its stake in shares of HomeStreet by 113.6% during the 2nd quarter. Endeavour Capital Advisors Inc. now owns 706,253 shares of the financial services provider’s stock worth $8,051,000 after buying an additional 375,581 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of HomeStreet by 494.0% in the 3rd quarter. Wellington Management Group LLP now owns 670,926 shares of the financial services provider’s stock worth $10,574,000 after buying an additional 557,977 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in HomeStreet by 4.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock valued at $7,299,000 after acquiring an additional 28,874 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in HomeStreet by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 426,130 shares of the financial services provider’s stock valued at $6,717,000 after acquiring an additional 7,898 shares in the last quarter. 74.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HMST has been the subject of several recent analyst reports. Janney Montgomery Scott cut HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wedbush upgraded shares of 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. Finally, StockNews.com began coverage on shares of HomeStreet in a research note on Sunday, September 22nd. They set a “sell” rating on the stock.

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.