CCG Wealth Management LLC Has $3.46 Million Stock Holdings in HomeStreet, Inc. (NASDAQ:HMST)

CCG Wealth Management LLC grew its position in HomeStreet, Inc. (NASDAQ:HMST) by 29.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,781 shares of the financial services provider’s stock after purchasing an additional 52,136 shares during the quarter. HomeStreet makes up about 2.1% of CCG Wealth Management LLC’s investment portfolio, making the stock its 10th largest holding. CCG Wealth Management LLC’s holdings in HomeStreet were worth $3,458,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in HMST. Russell Investments Group Ltd. increased its position in HomeStreet by 2.4% during the fourth quarter. Russell Investments Group Ltd. now owns 34,288 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 810 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in HomeStreet by 167.2% in the third quarter. PNC Financial Services Group Inc. now owns 3,284 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 2,055 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of HomeStreet by 132.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,388 shares of the financial services provider’s stock valued at $45,000 after buying an additional 2,503 shares during the period. CWM LLC raised its holdings in shares of HomeStreet by 2,222.2% in the fourth quarter. CWM LLC now owns 3,553 shares of the financial services provider’s stock worth $37,000 after buying an additional 3,400 shares during the period. Finally, AJOVista LLC bought a new stake in shares of HomeStreet during the 4th quarter worth approximately $38,000. 74.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HMST has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of HomeStreet in a research note on Wednesday, June 26th. They set a “sell” rating for the company. Janney Montgomery Scott raised shares of HomeStreet from a “neutral” rating to a “buy” rating and set a $13.50 price objective for the company in a research note on Thursday, June 20th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $13.50 target price on shares of HomeStreet in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.00.

HomeStreet Stock Performance

HomeStreet stock traded down $0.16 during midday trading on Monday, hitting $11.24. 223,815 shares of the company were exchanged, compared to its average volume of 251,262. The business has a fifty day simple moving average of $10.21 and a two-hundred day simple moving average of $12.09. The company has a debt-to-equity ratio of 4.40, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $211.99 million, a PE ratio of -5.35 and a beta of 1.38. HomeStreet, Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $15.82.

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

HomeStreet Profile

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.