HomeStreet, Inc. (NASDAQ:HMST) Short Interest Down 12.5% in May

HomeStreet, Inc. (NASDAQ:HMST - Get Free Report) saw a large decline in short interest in May. As of May 15th, there was short interest totalling 349,700 shares, a decline of 12.5% from the April 30th total of 399,700 shares. Based on an average daily volume of 162,200 shares, the short-interest ratio is presently 2.2 days. Currently, 1.9% of the shares of the stock are sold short.

HomeStreet Stock Performance

NASDAQ:HMST remained flat at $12.82 on Thursday. The company's stock had a trading volume of 16,353 shares, compared to its average volume of 152,607. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $242.57 million, a PE ratio of -1.67 and a beta of 1.34. The business has a 50 day moving average of $11.73 and a 200-day moving average of $10.88. HomeStreet has a 12-month low of $8.09 and a 12-month high of $16.10.

HomeStreet (NASDAQ:HMST - Get Free Report) last posted its earnings results on Monday, April 28th. The financial services provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $85.77 million for the quarter, compared to the consensus estimate of $46.61 million. As a group, equities research analysts predict that HomeStreet will post 0.3 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On HomeStreet

Several hedge funds have recently made changes to their positions in the business. Strs Ohio bought a new position in shares of HomeStreet during the 1st quarter worth approximately $553,000. Acadian Asset Management LLC acquired a new stake in HomeStreet during the 1st quarter valued at $124,000. Goldman Sachs Group Inc. lifted its holdings in HomeStreet by 12.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 297,001 shares of the financial services provider's stock valued at $3,487,000 after purchasing an additional 32,912 shares during the last quarter. AQR Capital Management LLC increased its position in HomeStreet by 67.0% during the 1st quarter. AQR Capital Management LLC now owns 89,863 shares of the financial services provider's stock worth $1,055,000 after buying an additional 36,052 shares during the period. Finally, PDT Partners LLC bought a new position in HomeStreet during the 1st quarter worth $176,000. 74.71% of the stock is owned by institutional investors.

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.