HomeStreet, Inc. (NASDAQ:HMST) Short Interest Down 11.8% in October

HomeStreet, Inc. (NASDAQ:HMST) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 274,200 shares, a decline of 11.8% from the October 15th total of 311,000 shares. Based on an average daily trading volume, of 126,400 shares, the short-interest ratio is presently 2.2 days. Currently, 1.5% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms recently commented on HMST. Wedbush raised HomeStreet from a “neutral” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Tuesday, November 5th. Keefe, Bruyette & Woods upped their target price on shares of HomeStreet from $13.50 to $14.50 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. StockNews.com began coverage on HomeStreet in a report on Sunday, September 22nd. They set a “sell” rating on the stock. Finally, Janney Montgomery Scott lowered HomeStreet from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

HomeStreet Stock Performance

NASDAQ:HMST traded down $0.35 during midday trading on Monday, reaching $11.08. The stock had a trading volume of 102,507 shares, compared to its average volume of 197,496. The stock has a market cap of $208.95 million, a P/E ratio of -8.52 and a beta of 1.42. The firm has a fifty day simple moving average of $13.75 and a two-hundred day simple moving average of $12.69. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 3.94. HomeStreet has a 12-month low of $5.98 and a 12-month high of $16.10.

Insider Transactions at HomeStreet

In other news, Director Paulette Lemon sold 2,401 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $15.59, for a total value of $37,431.59. Following the sale, the director now owns 16,923 shares in the company, valued at $263,829.57. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in HomeStreet by 0.3% during the 3rd quarter. State Street Corp now owns 422,031 shares of the financial services provider’s stock worth $6,651,000 after purchasing an additional 1,083 shares in the last quarter. EMC Capital Management lifted its holdings in HomeStreet by 16.2% in the first quarter. EMC Capital Management now owns 8,613 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 1,201 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of HomeStreet by 10.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 1,354 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in HomeStreet by 23.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock worth $164,000 after buying an additional 2,703 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of HomeStreet by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 70,950 shares of the financial services provider’s stock valued at $809,000 after purchasing an additional 3,113 shares during the period. Institutional investors and hedge funds 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.