Short Interest in HomeStreet, Inc. (NASDAQ:HMST) Decreases By 10.0%

HomeStreet, Inc. (NASDAQ:HMST) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 600,000 shares, a decline of 10.0% from the July 15th total of 666,900 shares. Based on an average daily trading volume, of 156,000 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.4% of the company’s stock are short sold.

HomeStreet Stock Performance

NASDAQ:HMST traded down $0.19 on Tuesday, hitting $14.88. The stock had a trading volume of 8,537 shares, compared to its average volume of 222,606. The business’s 50-day simple moving average is $12.37 and its two-hundred day simple moving average is $12.49. HomeStreet has a 52-week low of $4.20 and a 52-week high of $15.82. The company has a quick ratio of 1.17, a current ratio of 1.14 and a debt-to-equity ratio of 4.06. The stock has a market cap of $280.61 million, a price-to-earnings ratio of -7.08 and a beta of 1.38.

HomeStreet (NASDAQ:HMST) last announced its earnings results on Monday, July 29th. The financial services provider reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. HomeStreet had a negative net margin of 3.30% and a negative return on equity of 1.87%. The business had revenue of $114.35 million during the quarter, compared to analysts’ expectations of $43.33 million. As a group, research analysts predict that HomeStreet will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Janney Montgomery Scott raised 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. StockNews.com began coverage on shares of HomeStreet in a report on Tuesday, August 13th. They issued a “sell” rating for the company. Finally, Keefe, Bruyette & Woods increased their price target on shares of HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.25.

Hedge Funds Weigh In On HomeStreet

Several institutional investors and hedge funds have recently bought and sold shares of HMST. Acuitas Investments LLC raised its stake in shares of HomeStreet by 86.0% in the fourth quarter. Acuitas Investments LLC now owns 342,643 shares of the financial services provider’s stock worth $3,529,000 after buying an additional 158,455 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in HomeStreet by 27.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 586,929 shares of the financial services provider’s stock valued at $6,045,000 after purchasing an additional 127,969 shares in the last quarter. Neuberger Berman Group LLC bought a new position in shares of HomeStreet in the fourth quarter worth approximately $170,000. Trexquant Investment LP increased its stake in shares of HomeStreet by 70.8% in the fourth quarter. Trexquant Investment LP now owns 167,420 shares of the financial services provider’s stock worth $1,724,000 after purchasing an additional 69,384 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of HomeStreet during the 4th quarter valued at $151,000. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

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.