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.
Get Our Latest Stock Report on HMST
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
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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.
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