2023-08-03 14:59:05 ET
- HomeStreet ( NASDAQ: HMST ) rose 12% amid an investor push for asset sales at the bank after a report on Tuesday that the company is exploring its options, including a potential sale.
- Blue Lion Capital, which said its beneficial owner owns about 2% of HomeStreet ( HMST ) shares, said the bank should immediately proceed with the sale of its FNMA DUS license and use the proceeds from the sale to fix its balance sheet and remove concerns regarding the viability of the bank, according to a statement on Thursday.
- Blue Lion is urging HomeStreet to sell the FNMA DUS license and believes the stock could more than double to $22 if it were to do so, according to a letter it wrote.
- Bloomberg reported Tuesday that Seattle-based HomeStreet ( HMST ) is also evaluating raising capital and selling assets.
- HomesStreet reported Q2 results on Friday.
For further details see:
HomeStreet gains amid investor push for asset sales