HomeStreet Inc (NASDAQ:HMST) Short Interest Update

HomeStreet Inc (NASDAQ:HMST) was the recipient of a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 447,100 shares, a growth of 31.4% from the November 14th total of 340,300 shares. Based on an average daily volume of 157,200 shares, the short-interest ratio is currently 2.8 days. Approximately 1.9% of the company’s shares are short sold.

In related news, Director Victor H. Indiek sold 3,272 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $31.28, for a total value of $102,348.16. Following the completion of the transaction, the director now owns 5,693 shares of the company’s stock, valued at approximately $178,077.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.64% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in HMST. Aperio Group LLC purchased a new stake in HomeStreet in the 2nd quarter worth approximately $263,000. Swiss National Bank raised its holdings in shares of HomeStreet by 1.9% during the 2nd quarter. Swiss National Bank now owns 47,700 shares of the financial services provider’s stock valued at $1,414,000 after purchasing an additional 900 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of HomeStreet by 170.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,704 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,075 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of HomeStreet by 7.7% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 9,357 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 670 shares in the last quarter. Finally, Investment Counselors of Maryland LLC raised its holdings in shares of HomeStreet by 1.0% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 792,269 shares of the financial services provider’s stock valued at $23,483,000 after purchasing an additional 8,125 shares in the last quarter. Institutional investors own 82.65% of the company’s stock.

HMST stock opened at $33.36 on Friday. HomeStreet has a 12-month low of $20.50 and a 12-month high of $35.44. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 0.19. The company has a market cap of $798.96 million, a price-to-earnings ratio of 22.54 and a beta of 0.71. The company has a 50 day moving average of $31.54 and a two-hundred day moving average of $29.02.

HomeStreet (NASDAQ:HMST) last released its earnings results on Monday, October 21st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.21. HomeStreet had a net margin of 5.66% and a return on equity of 4.88%. The company had revenue of $71.71 million during the quarter, compared to the consensus estimate of $67.04 million. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, research analysts anticipate that HomeStreet will post 1.48 EPS for the current year.

HMST has been the subject of a number of research analyst reports. BidaskClub upgraded shares of HomeStreet from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. ValuEngine downgraded shares of HomeStreet from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of HomeStreet from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Wednesday. TheStreet upgraded shares of HomeStreet from a “c+” rating to a “b” rating in a research report on Thursday, November 7th. Finally, DA Davidson upgraded shares of HomeStreet from an “underperform” rating to a “neutral” rating and set a $27.00 target price for the company in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $33.25.

HomeStreet Company Profile

HomeStreet, Inc operates as the bank holding company for HomeStreet Bank, a state-chartered commercial bank that provides commercial and consumer banking services primarily in the Pacific Northwest, California, and Hawaii. The company operates in two segments, Commercial and Consumer Banking, and Mortgage Banking.

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