CCG Wealth Management LLC Purchases 52,136 Shares of HomeStreet, Inc. (NASDAQ:HMST)

CCG Wealth Management LLC increased its stake in shares of HomeStreet, Inc. (NASDAQ:HMST) by 29.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,781 shares of the financial services provider’s stock after buying an additional 52,136 shares during the period. HomeStreet accounts for approximately 2.1% of CCG Wealth Management LLC’s holdings, making the stock its 10th biggest holding. CCG Wealth Management LLC owned about 1.22% of HomeStreet worth $3,458,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HMST. PNC Financial Services Group Inc. lifted its stake in HomeStreet by 167.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,284 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 2,055 shares during the last quarter. CWM LLC boosted its holdings in HomeStreet by 2,222.2% during the fourth quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 3,400 shares during the last quarter. AJOVista LLC purchased a new stake in HomeStreet during the 4th quarter worth about $38,000. Tower Research Capital LLC TRC raised its holdings in shares of HomeStreet by 132.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 2,503 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of HomeStreet during the fourth quarter valued at about $129,000. Institutional investors and hedge funds own 74.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com started coverage on shares of HomeStreet in a research note on Wednesday, June 26th. They issued a “sell” rating for the company. Janney Montgomery Scott upgraded shares of 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 reissued a “market perform” rating and issued a $13.50 price objective on shares of HomeStreet in a report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.00.

HomeStreet Price Performance

Shares of NASDAQ HMST traded down $0.16 during trading hours on Monday, reaching $11.24. 223,815 shares of the stock traded hands, compared to its average volume of 251,262. The company has a market capitalization of $211.99 million, a P/E ratio of -5.35 and a beta of 1.38. HomeStreet, Inc. has a 52-week low of $4.20 and a 52-week high of $15.82. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 4.40. The company’s 50-day simple moving average is $10.21 and its two-hundred day simple moving average is $12.09.

HomeStreet (NASDAQ:HMST) last announced its earnings results on Tuesday, April 30th. The financial services provider reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.23). The business had revenue of $41.61 million during the quarter, compared to analyst estimates of $48.07 million. HomeStreet had a negative net margin of 8.97% and a negative return on equity of 0.43%. Equities research analysts forecast that HomeStreet, Inc. will post -0.75 EPS for the current year.

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.