HomeStreet, Inc. (NASDAQ:HMST) Short Interest Down 12.4% in March

HomeStreet, Inc. (NASDAQ:HMST) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 556,500 shares, a decrease of 12.4% from the February 28th total of 635,100 shares. Based on an average daily trading volume, of 154,600 shares, the short-interest ratio is presently 3.6 days. Approximately 3.1% of the company’s stock are short sold.

Hedge Funds Weigh In On HomeStreet

A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in HomeStreet by 66.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,181 shares of the financial services provider’s stock worth $36,000 after buying an additional 1,266 shares during the last quarter. Assetmark Inc. bought a new position in HomeStreet during the fourth quarter worth $40,000. EMC Capital Management lifted its stake in HomeStreet by 20.8% during the fourth quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 1,484 shares during the last quarter. Oxford Asset Management LLP acquired a new position in HomeStreet in the fourth quarter worth $118,000. Finally, Wells Fargo & Company MN increased its stake in HomeStreet by 27.5% during the fourth quarter. Wells Fargo & Company MN now owns 10,852 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 2,339 shares during the last quarter. 74.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HMST shares. Wedbush raised their target price on HomeStreet from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Piper Sandler boosted their target price on shares of HomeStreet from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.25.

HomeStreet Stock Down 6.2 %

Shares of HomeStreet stock traded down $0.78 on Thursday, hitting $11.78. 132,740 shares of the company’s stock traded hands, compared to its average volume of 159,752. HomeStreet has a 52-week low of $8.09 and a 52-week high of $16.10. 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 stock has a market cap of $222.89 million, a P/E ratio of -1.54 and a beta of 1.45. The firm’s 50-day moving average is $9.87 and its 200 day moving average is $11.49.

HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). HomeStreet had a negative net margin of 40.30% and a negative return on equity of 4.23%. Equities 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.