HomeStreet, Inc. (NASDAQ:HMST) Sees Significant Growth in Short Interest

HomeStreet, Inc. (NASDAQ:HMST) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 628,700 shares, an increase of 20.6% from the November 30th total of 521,400 shares. Based on an average trading volume of 164,600 shares, the days-to-cover ratio is presently 3.8 days. Approximately 3.5% of the company’s shares are sold short.

HomeStreet Stock Performance

HomeStreet stock traded up $0.19 during trading hours on Tuesday, reaching $11.42. 185,717 shares of the stock were exchanged, compared to its average volume of 196,728. The stock has a market cap of $215.36 million, a P/E ratio of -8.78 and a beta of 1.48. The firm’s 50 day moving average is $11.52 and its 200 day moving average is $13.09. The company has a debt-to-equity ratio of 3.94, a quick ratio of 1.15 and a current ratio of 1.15. HomeStreet has a 52-week low of $8.09 and a 52-week high of $16.10.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HMST. Janney Montgomery Scott cut HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wedbush upped their target price on shares of HomeStreet from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, StockNews.com assumed coverage on HomeStreet in a report on Sunday, September 22nd. They set a “sell” rating on the stock.

Insider Transactions at HomeStreet

In other HomeStreet news, EVP Godfrey B. Evans sold 4,636 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $11.55, for a total transaction of $53,545.80. Following the sale, the executive vice president now directly owns 67,049 shares in the company, valued at $774,415.95. This represents a 6.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John Michel sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $11.26, for a total transaction of $90,080.00. Following the completion of the transaction, the chief financial officer now directly owns 28,409 shares of the company’s stock, valued at approximately $319,885.34. The trade was a 21.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,846 shares of company stock worth $203,697. 4.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HomeStreet

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in HomeStreet by 494.0% during the 3rd quarter. Wellington Management Group LLP now owns 670,926 shares of the financial services provider’s stock worth $10,574,000 after purchasing an additional 557,977 shares during the period. Dimensional Fund Advisors LP grew its holdings in HomeStreet by 4.7% during the second quarter. Dimensional Fund Advisors LP now owns 640,296 shares of the financial services provider’s stock worth $7,299,000 after acquiring an additional 28,874 shares during the period. Stieven Capital Advisors L.P. purchased a new position in HomeStreet in the third quarter worth $5,358,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in HomeStreet in the third quarter valued at $2,633,000. Finally, Mendon Capital Advisors Corp boosted its position in shares of HomeStreet by 21.0% during the 2nd quarter. Mendon Capital Advisors Corp now owns 363,000 shares of the financial services provider’s stock worth $4,138,000 after purchasing an additional 63,000 shares in the last quarter. Institutional investors and hedge funds own 74.71% of the company’s stock.

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.