* Stock split effective March 6
* Each shareholder to get one more share for each held
Feb 29 (Reuters) - HomeStreet Inc has authorized a two-for-one forward stock split effective March 6 and the diversified financial services company said each shareholder will get an additional share for every share held.
With the completion of the stock split the number of shares outstanding will double to about 7.17 million shares, the company said.
The stock split comes just weeks after the troubled lender listed on the Nasdaq.
In May last year, HomeStreet had filed with US regulators to raise up to $210 million in an initial public offering of its common stock, but delayed its IPO twice citing market conditions.
The company also cut its IPO size twice -- in July to $190 million and again in February to $55 million.
It subsequently sold more shares than planned when it listed earlier this month. HomeStreet sold 1.8 million shares in the offering at $44 each, valuing the company at $79.2 million.
The Seattle-based company operates four primary lines of business -- Community Banking, Single Family Lending, Income Property Lending and Residential Construction Lending.
Shares of the company closed at $52.45 on Tuesday on the New York Stock Exchange.