HomeStreet, Inc. (NASDAQ:HMST) Short Interest Down 11.8% in October

HomeStreet, Inc. (NASDAQ:HMST) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 274,200 shares, a drop of 11.8% from the October 15th total of 311,000 shares. Based on an average daily trading volume, of 126,400 shares, the short-interest ratio is currently 2.2 days. Approximately 1.5% of the company’s stock are sold short.

Analysts Set New Price Targets

HMST has been the topic of a number of recent analyst reports. StockNews.com started coverage on shares of HomeStreet in a report on Sunday, September 22nd. They set a “sell” rating on the stock. Wedbush raised HomeStreet from a “neutral” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Tuesday, November 5th. Keefe, Bruyette & Woods upped their price target on HomeStreet from $13.50 to $14.50 and gave the company a “market perform” rating in a report on Tuesday, July 30th. Finally, Janney Montgomery Scott cut HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

HomeStreet Stock Performance

HomeStreet stock traded down $0.35 during mid-day trading on Monday, reaching $11.08. 102,507 shares of the stock traded hands, compared to its average volume of 197,496. The stock has a market capitalization of $208.95 million, a PE ratio of -8.52 and a beta of 1.42. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.15 and a quick ratio of 1.14. The business’s 50-day moving average is $13.75 and its 200-day moving average is $12.69. HomeStreet has a 12-month low of $5.98 and a 12-month high of $16.10.

Insider Activity at HomeStreet

In related news, Director Paulette Lemon sold 2,401 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $263,829.57. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On HomeStreet

Several hedge funds and other institutional investors have recently made changes to their positions in HMST. State Street Corp grew its position in HomeStreet by 0.3% during the third quarter. State Street Corp now owns 422,031 shares of the financial services provider’s stock valued at $6,651,000 after buying an additional 1,083 shares during the period. EMC Capital Management increased its stake in shares of HomeStreet by 16.2% in the 1st quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 1,201 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 worth $218,000 after purchasing an additional 1,354 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in HomeStreet by 23.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 2,703 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in HomeStreet by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock valued at $809,000 after purchasing an additional 3,113 shares in the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

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.