HomeStreet, Inc. (NASDAQ:HMST – Get Free Report) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 1,790,000 shares, a drop of 26.3% from the August 15th total of 2,430,000 shares. Currently, 10.1% of the shares of the stock are short sold. Based on an average trading volume of 519,300 shares, the days-to-cover ratio is presently 3.4 days.
HomeStreet Trading Down 3.3 %
Shares of NASDAQ HMST traded down $0.30 during mid-day trading on Monday, hitting $8.90. The company’s stock had a trading volume of 255,080 shares, compared to its average volume of 415,581. The company’s fifty day simple moving average is $9.33 and its 200-day simple moving average is $10.83. HomeStreet has a one year low of $4.76 and a one year high of $35.15. The stock has a market cap of $167.23 million, a price-to-earnings ratio of 68.46 and a beta of 1.02. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.12 and a quick ratio of 1.12.
HomeStreet (NASDAQ:HMST – Get Free Report) last released its quarterly earnings data on Friday, July 28th. The financial services provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). HomeStreet had a return on equity of 6.69% and a net margin of 0.59%. The firm had revenue of $53.79 million for the quarter, compared to the consensus estimate of $57.07 million. On average, sell-side analysts anticipate that HomeStreet will post 0.54 earnings per share for the current fiscal year.
HomeStreet Dividend Announcement
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of HomeStreet from $7.00 to $10.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. TheStreet lowered shares of HomeStreet from a “c” rating to a “d+” rating in a research note on Friday, July 28th. Finally, StockNews.com raised shares of HomeStreet to a “sell” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.00.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its stake in HomeStreet by 28.3% in the first quarter. State Street Corp now owns 1,092,200 shares of the financial services provider’s stock valued at $51,748,000 after buying an additional 240,973 shares in the last quarter. Morgan Stanley lifted its stake in HomeStreet by 9.1% in the fourth quarter. Morgan Stanley now owns 632,497 shares of the financial services provider’s stock valued at $17,444,000 after buying an additional 52,767 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in HomeStreet by 26.4% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 628,950 shares of the financial services provider’s stock valued at $3,723,000 after buying an additional 131,450 shares in the last quarter. Brandywine Global Investment Management LLC lifted its stake in HomeStreet by 23.2% in the first quarter. Brandywine Global Investment Management LLC now owns 461,665 shares of the financial services provider’s stock valued at $8,305,000 after buying an additional 86,905 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in HomeStreet by 3.9% in the second quarter. Geode Capital Management LLC now owns 395,651 shares of the financial services provider’s stock valued at $2,342,000 after buying an additional 14,917 shares in the last quarter. Institutional investors own 76.45% of the company’s stock.
HomeStreet, Inc operates as the bank holding company for HomeStreet Bank that provides commercial, mortgage, and consumer/retail banking services primarily in the Western United States. The company offers personal and business checking, savings accounts, interest-bearing, money market accounts, and certificates of deposit; credit cards; insurance; and cash management services.
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