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

HomeStreet, Inc. (NASDAQ:HMST) saw a significant growth in short interest in June. As of June 30th, there was short interest totalling 630,500 shares, a growth of 44.0% from the June 15th total of 437,900 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily trading volume, of 164,900 shares, the short-interest ratio is currently 3.8 days.

HomeStreet Price Performance

Shares of HMST traded up $0.19 during mid-day trading on Friday, hitting $12.70. 96,459 shares of the company were exchanged, compared to its average volume of 184,989. The stock has a market cap of $239.52 million, a price-to-earnings ratio of -5.96 and a beta of 1.38. HomeStreet has a 1-year low of $4.20 and a 1-year high of $15.82. The company has a 50 day moving average of $10.16 and a 200-day moving average of $12.21. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.17 and a current ratio of 1.17.

HomeStreet (NASDAQ:HMST) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.23). The firm had revenue of $41.61 million for the quarter, compared to analysts’ expectations of $48.07 million. HomeStreet had a negative return on equity of 0.43% and a negative net margin of 8.97%. Analysts expect that HomeStreet will post -0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HMST. StockNews.com assumed coverage on shares of HomeStreet in a research note on Friday. They set a “sell” rating on the stock. Janney Montgomery Scott upgraded HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price target on the stock in a research report on Thursday, June 20th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $13.50 price objective on shares of HomeStreet in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.00.

Institutional Investors Weigh In On HomeStreet

A number of hedge funds have recently modified their holdings of the business. EMC Capital Management increased its stake in shares of HomeStreet by 16.2% in the 1st 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. Kennedy Capital Management LLC purchased a new position in HomeStreet during the 1st quarter valued at about $3,720,000. Price T Rowe Associates Inc. MD boosted its stake in shares of HomeStreet by 10.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,446 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 1,354 shares during the period. Caldwell Sutter Capital Inc. acquired a new position in shares of HomeStreet in the first quarter worth $903,000. Finally, CCG Wealth Management LLC grew its stake in HomeStreet by 29.3% during the 1st quarter. CCG Wealth Management LLC now owns 229,781 shares of the financial services provider’s stock worth $3,458,000 after purchasing an additional 52,136 shares in the last quarter. 74.71% of the stock is currently owned by institutional investors and hedge funds.

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.