Short Interest in HomeStreet, Inc. (NASDAQ:HMST) Declines By 12.4%

HomeStreet, Inc. (NASDAQ:HMST) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 556,500 shares, a decline of 12.4% from the February 28th total of 635,100 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 154,600 shares, the short-interest ratio is presently 3.6 days.

HomeStreet Trading Down 6.2 %

Shares of HMST stock traded down $0.78 during mid-day trading on Thursday, hitting $11.78. 132,740 shares of the company’s stock were exchanged, compared to its average volume of 159,752. The stock has a market cap of $222.89 million, a price-to-earnings ratio of -1.54 and a beta of 1.45. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.09. HomeStreet has a fifty-two week low of $8.09 and a fifty-two week high of $16.10. The stock has a 50-day simple moving average of $9.87 and a two-hundred day simple moving average of $11.49.

HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, January 27th. The financial services provider reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). HomeStreet had a negative net margin of 40.30% and a negative return on equity of 4.23%. Equities analysts expect that HomeStreet will post 0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of HomeStreet by 0.3% in the 3rd quarter. State Street Corp now owns 422,031 shares of the financial services provider’s stock worth $6,651,000 after purchasing an additional 1,083 shares during the period. Price T Rowe Associates Inc. MD lifted its position in HomeStreet by 7.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,222 shares of the financial services provider’s stock valued at $186,000 after buying an additional 1,136 shares in the last quarter. Russell Investments Group Ltd. grew its stake in HomeStreet by 66.1% during the fourth quarter. Russell Investments Group Ltd. now owns 3,181 shares of the financial services provider’s stock worth $36,000 after buying an additional 1,266 shares during the period. EMC Capital Management increased its position in shares of HomeStreet by 20.8% in the fourth quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 1,484 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of HomeStreet by 27.5% in the 4th quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 2,339 shares during the period. 74.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HMST has been the subject of a number of research reports. Piper Sandler lifted their target price on shares of HomeStreet from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday. Janney Montgomery Scott upgraded HomeStreet from a “neutral” rating to a “buy” rating in a report on Tuesday. Finally, Wedbush boosted their price target on HomeStreet from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.25.

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.