HomeStreet, Inc. (NASDAQ:HMST) Short Interest Update

HomeStreet, Inc. (NASDAQ:HMST) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 628,700 shares, an increase of 20.6% from the November 30th total of 521,400 shares. Based on an average trading volume of 164,600 shares, the short-interest ratio is currently 3.8 days. Approximately 3.5% of the shares of the stock are sold short.

Insider Activity

In other HomeStreet news, CFO John Michel sold 8,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $11.26, for a total value of $90,080.00. Following the sale, the chief financial officer now owns 28,409 shares of the company’s stock, valued at $319,885.34. This represents a 21.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sidney Craig Tompkins purchased 5,000 shares of the stock in a transaction dated Tuesday, December 17th. The stock was acquired at an average price of $11.49 per share, for a total transaction of $57,450.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $57,450. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 17,846 shares of company stock worth $203,697. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On HomeStreet

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC purchased a new position in shares of HomeStreet during the 2nd quarter worth about $122,000. Vanguard Personalized Indexing Management LLC raised its position in shares of HomeStreet by 23.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,350 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 2,703 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of HomeStreet by 113.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,814 shares of the financial services provider’s stock valued at $375,000 after buying an additional 12,632 shares during the last quarter. Barclays PLC grew its position in shares of HomeStreet by 276.4% during the third quarter. Barclays PLC now owns 23,937 shares of the financial services provider’s stock worth $377,000 after buying an additional 17,578 shares in the last quarter. Finally, Quest Partners LLC increased its stake in shares of HomeStreet by 2,941,900.0% in the third quarter. Quest Partners LLC now owns 29,420 shares of the financial services provider’s stock worth $464,000 after buying an additional 29,419 shares during the last quarter. Hedge funds and other institutional investors own 74.71% of the company’s stock.

HomeStreet Trading Up 1.7 %

HMST stock traded up $0.19 during midday trading on Tuesday, hitting $11.42. The stock had a trading volume of 185,717 shares, compared to its average volume of 196,728. The company’s 50-day moving average price is $11.52 and its 200 day moving average price is $13.09. The company has a debt-to-equity ratio of 3.94, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market cap of $215.36 million, a PE ratio of -8.78 and a beta of 1.48. HomeStreet has a 12-month low of $8.09 and a 12-month high of $16.10.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HMST. Janney Montgomery Scott cut HomeStreet from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 30th. Wedbush increased their price objective on HomeStreet from $12.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, StockNews.com initiated coverage on shares of HomeStreet in a research note on Sunday, September 22nd. They issued a “sell” rating for the company.

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.