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

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

Analysts Set New Price Targets

Several research firms have recently commented on HMST. Janney Montgomery Scott downgraded shares of HomeStreet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. StockNews.com began coverage on shares of HomeStreet in a report on Sunday, September 22nd. They set a “sell” rating for the company. Finally, Wedbush raised HomeStreet from a “neutral” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Tuesday, November 5th.

Insider Activity at HomeStreet

In other news, CFO John Michel sold 8,000 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 28,409 shares of the company’s stock, valued at $319,885.34. The trade was a 21.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joanne R. Harrell acquired 2,146 shares of the stock in a transaction dated Tuesday, November 26th. The shares were bought at an average cost of $11.65 per share, for a total transaction of $25,000.90. Following the completion of the transaction, the director now owns 17,053 shares in the company, valued at approximately $198,667.45. This represents a 14.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.60% of the stock is owned by company insiders.

Institutional Trading of HomeStreet

A number of large investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in shares of HomeStreet in the 2nd quarter valued at about $122,000. Vanguard Personalized Indexing Management LLC raised its position in HomeStreet by 23.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 2,703 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 purchasing an additional 1,354 shares during the last quarter. Barclays PLC boosted its holdings in shares of HomeStreet by 276.4% in the 3rd quarter. Barclays PLC now owns 23,937 shares of the financial services provider’s stock worth $377,000 after purchasing an additional 17,578 shares during the period. Finally, Quest Partners LLC increased its position in shares of HomeStreet by 2,941,900.0% during the 3rd quarter. Quest Partners LLC now owns 29,420 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 29,419 shares during the last quarter. 74.71% of the stock is currently owned by institutional investors.

HomeStreet Price Performance

HMST traded up $0.42 during trading hours on Friday, hitting $11.88. The company’s stock had a trading volume of 123,048 shares, compared to its average volume of 222,043. HomeStreet has a 12 month low of $6.48 and a 12 month high of $16.10. 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 business’s 50-day moving average price is $13.09 and its 200-day moving average price is $12.74. The stock has a market cap of $224.06 million, a price-to-earnings ratio of -9.14 and a beta of 1.42.

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.