Is HomeStreet (HMST) a Wise Investment Choice?

Sterling Partners Equity Advisors, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be seen here. The Fund owns well-capitalized companies that earn good returns over cycles. They sell differentiated products and services that serve a niche, with a “moat” to quote Morningstar, and the fund buys them at what they believe are attractive prices. The fund will be looking for more of them in 2022. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Sterling Partners Equity Advisors, in its Q4 2021 investor letter, mentioned HomeStreet, Inc. (NASDAQ:HMST) and discussed its stance on the firm. Founded in 1921, HomeStreet, Inc. (NASDAQ:HMST) is a Seattle, Washington-based financial services company with a $940.1 million market capitalization, and is currently spearheaded by its CEO, Mark K. Mason. HomeStreet, Inc. (NASDAQ:HMST) delivered a -6.40% return since the beginning of the year, while its 12-month returns are up by 6.34%. The stock closed at $48.67 per share on March 25, 2022.

Here is what Sterling Partners Equity Advisors has to say about HomeStreet, Inc. (NASDAQ:HMST) in its Q4 2021 investor letter:

“HomeStreet is a financial services company in Seattle, Washington and holding company for HomeStreet Bank. Our thesis is that HomeStreet is strategically growing in the Pacific Northwest.

HomeStreet’s posted positive results during the quarter which reflects its focus on improving operating efficiency and conservative credit culture. Management expects strong loan production will drive loan portfolio growth in the future.”

Our calculations show that HomeStreet, Inc. (NASDAQ:HMST) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. HomeStreet, Inc. (NASDAQ:HMST) was in 18 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 15 funds in the previous quarter. HomeStreet, Inc. (NASDAQ:HMST) delivered a -5.31% return in the past 3 months.

In November 2021, we published an article that includes HomeStreet, Inc. (NASDAQ:HMST) in the 5 Stocks to Buy According to Fred Cummings’ Elizabeth Park Capital. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.