HomeStreet, Inc. (NASDAQ:HMST) Short Interest Up 53.1% in November

HomeStreet, Inc. (NASDAQ:HMST) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 419,800 shares, a growth of 53.1% from the October 31st total of 274,200 shares. Based on an average daily volume of 147,900 shares, the days-to-cover ratio is currently 2.8 days. Approximately 2.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research firms have issued reports on HMST. Wedbush raised shares of HomeStreet from a “neutral” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Tuesday, November 5th. StockNews.com initiated coverage on HomeStreet in a report on Sunday, September 22nd. They issued a “sell” rating for the company. Finally, Janney Montgomery Scott cut HomeStreet from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

HomeStreet Stock Up 3.7 %

NASDAQ:HMST traded up $0.42 during mid-day trading on Friday, reaching $11.88. The company’s stock had a trading volume of 123,048 shares, compared to its average volume of 222,043. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 3.94. HomeStreet has a 1 year low of $6.48 and a 1 year high of $16.10. The stock has a fifty day moving average of $13.09 and a 200-day moving average of $12.74. The firm has a market capitalization of $224.06 million, a PE ratio of -9.14 and a beta of 1.42.

Insider Buying and Selling

In related news, CFO John Michel sold 8,000 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $11.26, for a total transaction of $90,080.00. Following the completion of the transaction, the chief financial officer now owns 28,409 shares in the company, valued at $319,885.34. The trade was a 21.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Godfrey B. Evans sold 4,636 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $11.55, for a total value of $53,545.80. Following the completion of the sale, the executive vice president now owns 67,049 shares in the company, valued at approximately $774,415.95. The trade was a 6.47 % decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On HomeStreet

Several hedge funds have recently modified their holdings of the business. Barclays PLC increased its holdings in HomeStreet by 276.4% during the third quarter. Barclays PLC now owns 23,937 shares of the financial services provider’s stock valued at $377,000 after buying an additional 17,578 shares during the period. Geode Capital Management LLC increased its holdings in shares of HomeStreet by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 426,130 shares of the financial services provider’s stock valued at $6,717,000 after acquiring an additional 7,898 shares during the period. Jane Street Group LLC raised its position in shares of HomeStreet by 20.2% in the 3rd quarter. Jane Street Group LLC now owns 40,572 shares of the financial services provider’s stock worth $639,000 after acquiring an additional 6,810 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of HomeStreet by 494.0% during the 3rd quarter. Wellington Management Group LLP now owns 670,926 shares of the financial services provider’s stock worth $10,574,000 after purchasing an additional 557,977 shares during the last quarter. Finally, State Street Corp boosted its position in HomeStreet by 0.3% during the third quarter. State Street Corp now owns 422,031 shares of the financial services provider’s stock valued at $6,651,000 after purchasing an additional 1,083 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.