HomeStreet, Inc. (NASDAQ:HMST) Short Interest Down 10.3% in October

HomeStreet, Inc. (NASDAQ:HMSTGet Rating) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 848,300 shares, a decrease of 10.3% from the October 15th total of 945,900 shares. Based on an average daily trading volume, of 147,300 shares, the short-interest ratio is currently 5.8 days. Currently, 4.8% of the shares of the company are short sold.

Hedge Funds Weigh In On HomeStreet

Several institutional investors have recently bought and sold shares of HMST. State Street Corp lifted its position in HomeStreet by 28.3% during 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 purchasing an additional 240,973 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of HomeStreet by 554.2% in the 1st quarter. Victory Capital Management Inc. now owns 217,178 shares of the financial services provider’s stock worth $9,040,000 after acquiring an additional 183,978 shares during the last quarter. North Reef Capital Management LP bought a new stake in shares of HomeStreet in the 3rd quarter worth about $4,242,000. Kennedy Capital Management Inc. lifted its holdings in shares of HomeStreet by 53.9% in the 2nd quarter. Kennedy Capital Management Inc. now owns 298,762 shares of the financial services provider’s stock worth $10,358,000 after acquiring an additional 104,649 shares during the last quarter. Finally, CCG Wealth Management LLC lifted its holdings in shares of HomeStreet by 85.2% in the 3rd quarter. CCG Wealth Management LLC now owns 209,526 shares of the financial services provider’s stock worth $6,036,000 after acquiring an additional 96,375 shares during the last quarter. Institutional investors own 87.69% of the company’s stock.

HomeStreet Stock Performance

HMST opened at $26.71 on Friday. The stock has a market capitalization of $500.09 million, a price-to-earnings ratio of 5.99 and a beta of 1.02. The company has a fifty day moving average of $29.37 and a 200 day moving average of $34.37. HomeStreet has a fifty-two week low of $22.44 and a fifty-two week high of $57.40. The company has a debt-to-equity ratio of 3.24, a quick ratio of 1.08 and a current ratio of 1.08.

HomeStreet (NASDAQ:HMSTGet Rating) last released its quarterly earnings data on Monday, October 24th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.02 by $0.06. HomeStreet had a net margin of 25.58% and a return on equity of 14.28%. During the same quarter last year, the company earned $1.31 earnings per share. As a group, sell-side analysts forecast that HomeStreet will post 3.77 earnings per share for the current fiscal year.

HomeStreet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Shareholders of record on Tuesday, November 8th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, November 7th. This represents a $1.40 annualized dividend and a yield of 5.24%. HomeStreet’s dividend payout ratio (DPR) is currently 31.39%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of HomeStreet in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Wedbush increased their price objective on shares of HomeStreet to $43.00 in a research note on Tuesday, July 26th. TheStreet cut shares of HomeStreet from a “b-” rating to a “c+” rating in a research note on Monday, October 31st. Piper Sandler reduced their price objective on shares of HomeStreet to $26.00 in a research note on Tuesday, November 1st. Finally, DA Davidson reduced their price objective on shares of HomeStreet to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.25.

About HomeStreet

(Get Rating)

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 negotiable order of withdrawal accounts, money market accounts, and time certificates of deposit; credit cards; insurance; and treasury management products and services.

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