Short Interest in HomeStreet, Inc. (NASDAQ:HMST) Drops By 12.5%

HomeStreet, Inc. (NASDAQ:HMST - Get Free Report) saw a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 349,700 shares, a decrease of 12.5% from the April 30th total of 399,700 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average trading volume of 162,200 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Trading of HomeStreet

Institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in HomeStreet by 7.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,222 shares of the financial services provider's stock worth $186,000 after buying an additional 1,136 shares during the period. Russell Investments Group Ltd. lifted its position in shares of HomeStreet by 66.1% in the fourth quarter. Russell Investments Group Ltd. now owns 3,181 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 1,266 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of HomeStreet by 8.9% in the first quarter. XTX Topco Ltd now owns 16,635 shares of the financial services provider's stock worth $195,000 after acquiring an additional 1,359 shares during the period. Wells Fargo & Company MN grew its position in shares of HomeStreet by 27.5% during the fourth quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider's stock worth $124,000 after purchasing an additional 2,339 shares in the last quarter. Finally, Northern Trust Corp raised its stake in HomeStreet by 1.6% during the 4th quarter. Northern Trust Corp now owns 162,266 shares of the financial services provider's stock valued at $1,853,000 after purchasing an additional 2,615 shares during the period. 74.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on HMST. Janney Montgomery Scott raised HomeStreet from a "neutral" rating to a "buy" rating in a research report on Tuesday, April 1st. Piper Sandler raised their price objective on shares of HomeStreet from $10.00 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods boosted their target price on shares of HomeStreet from $12.00 to $13.50 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen upgraded shares of HomeStreet from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $14.00.

HomeStreet Stock Performance

Shares of NASDAQ HMST traded up $0.21 during trading on Friday, hitting $13.01. The company had a trading volume of 38,396 shares, compared to its average volume of 154,883. HomeStreet has a 12 month low of $8.09 and a 12 month high of $16.10. The company has a debt-to-equity ratio of 3.09, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $246.16 million, a P/E ratio of -1.70 and a beta of 1.40. The stock has a 50 day simple moving average of $11.77 and a 200 day simple moving average of $10.90.

HomeStreet (NASDAQ:HMST - Get Free Report) last released its earnings results on Monday, April 28th. The financial services provider reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). HomeStreet had a negative return on equity of 4.23% and a negative net margin of 40.30%. The firm had revenue of $85.77 million during the quarter, compared to analysts' expectations of $46.61 million. As a group, analysts anticipate that HomeStreet will post 0.3 earnings per share for the current year.

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.