HomeStreet stock: Matthew Lindenbaum’s hedge fund, Basswood Capital, recently increased its stake in HomeStreet Inc (NASDAQ:HMST). The hedge fund added around 772,200 shares to its position in the company, a filing with the SEC showed. In this way, Basswood currently holds almost 896,500 shares of Homestreet, equivalent to 6.22% of the company, with the value of the position amounting to some $17.3 million.
Homestreet is a financial company with subsidiaries HomeStreet Bank and HomeStreet Capital Corporation. Homestreet Bank recently enlarged its operations in California by adding six new loan centers that will operate in Northern and Central California, a statement on the company’s website showed. Homestreet is also currently in the process of acquiring two other banks, Fortune Bank located in Seattle and Yakima, Washington-based, Yakima National Bank including its parent company YNB Financial Services Corp.. The value of the deals amounts to a combined $37.3 million.