HomeStreet, Inc. (NASDAQ:HMST) Sees Large Drop in Short Interest

HomeStreet, Inc. (NASDAQ:HMST - Get Free Report) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 556,500 shares, a drop of 12.4% from the February 28th total of 635,100 shares. Based on an average daily trading volume, of 154,600 shares, the days-to-cover ratio is presently 3.6 days. Currently, 3.1% of the shares of the company are short sold.

HomeStreet Stock Performance

NASDAQ HMST traded down $0.05 on Friday, hitting $11.35. 233,199 shares of the stock traded hands, compared to its average volume of 162,245. 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 business's fifty day moving average is $9.91 and its two-hundred day moving average is $11.40. HomeStreet has a 12 month low of $8.09 and a 12 month high of $16.10. The firm has a market capitalization of $214.75 million, a price-to-earnings ratio of -1.48 and a beta of 1.45.

HomeStreet (NASDAQ:HMST - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The financial services provider reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.05). HomeStreet had a negative return on equity of 4.23% and a negative net margin of 40.30%. As a group, equities analysts anticipate that HomeStreet will post 0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler upped their target price on HomeStreet from $10.00 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, April 1st. Wedbush raised their target price on HomeStreet from $12.00 to $15.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Finally, Janney Montgomery Scott upgraded HomeStreet from a "neutral" rating to a "buy" rating in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $14.25.

Hedge Funds Weigh In On HomeStreet

Several large investors have recently modified their holdings of the business. Philadelphia Financial Management of San Francisco LLC boosted its holdings in HomeStreet by 4.6% in the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,562,434 shares of the financial services provider's stock worth $24,624,000 after buying an additional 68,855 shares during the period. Wellington Management Group LLP lifted its position in shares of HomeStreet by 37.0% during the fourth quarter. Wellington Management Group LLP now owns 919,278 shares of the financial services provider's stock worth $10,498,000 after acquiring an additional 248,352 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of HomeStreet by 28.3% during the fourth quarter. Ameriprise Financial Inc. now owns 750,902 shares of the financial services provider's stock worth $8,575,000 after acquiring an additional 165,842 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of HomeStreet by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 631,996 shares of the financial services provider's stock worth $7,217,000 after acquiring an additional 18,092 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of HomeStreet by 126.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 428,578 shares of the financial services provider's stock valued at $4,894,000 after purchasing an additional 239,219 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.