HomeStreet, Inc. (NASDAQ:HMST) Short Interest Down 6.2% in August

HomeStreet, Inc. (NASDAQ:HMST) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 497,400 shares, a decline of 6.2% from the August 15th total of 530,200 shares. Based on an average trading volume of 144,300 shares, the days-to-cover ratio is currently 3.4 days. Currently, 2.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HMST. Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 target price on the stock in a report on Thursday, June 20th. Keefe, Bruyette & Woods increased their price target on shares of HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. Finally, StockNews.com assumed coverage on shares of HomeStreet in a report on Saturday, September 14th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.25.

HomeStreet Price Performance

HMST stock opened at $15.00 on Thursday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.14 and a current ratio of 1.14. HomeStreet has a 52 week low of $4.20 and a 52 week high of $16.10. The firm’s fifty day moving average is $14.49 and its 200 day moving average is $12.78. The firm has a market cap of $282.87 million, a P/E ratio of -7.04 and a beta of 1.37.

HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, July 29th. The financial services provider reported ($0.23) EPS for the quarter, beating the consensus estimate 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 company had revenue of $114.35 million for the quarter, compared to analyst estimates of $43.33 million. Research analysts predict that HomeStreet will post -0.87 earnings per share for the current year.

Insider Buying and Selling at HomeStreet

In related news, Director Paulette Lemon sold 2,401 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $15.59, for a total transaction of $37,431.59. Following the sale, the director now directly owns 16,923 shares in the company, valued at approximately $263,829.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On HomeStreet

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in HomeStreet by 27.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 586,929 shares of the financial services provider’s stock valued at $6,045,000 after buying an additional 127,969 shares during the period. Neuberger Berman Group LLC purchased a new stake in shares of HomeStreet in the 4th quarter worth about $170,000. Trexquant Investment LP lifted its position in shares of HomeStreet by 70.8% in the 4th 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 during the period. Quest Partners LLC purchased a new stake in shares of HomeStreet in the 4th quarter worth about $151,000. Finally, BNP Paribas Financial Markets lifted its position in shares of HomeStreet by 33.1% in the 4th quarter. BNP Paribas Financial Markets now owns 53,585 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 13,314 shares during the period. Hedge funds and other institutional investors 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.