In a report released yesterday, Bose George from KBW maintained a Hold rating on PennyMac Mortgage (PMT – Research Report), with a price target of $14.50. The company’s shares closed yesterday at $13.72.
According to TipRanks, George is a top 100 analyst with an average return of 14.7% and a 72.80% success rate. George covers the Financial sector, focusing on stocks such as First American Financial, Stewart Information Services, and PennyMac Financial.
Currently, the analyst consensus on PennyMac Mortgage is a Hold with an average price target of $14.40, a 4.96% upside from current levels. In a report released on April 22, Piper Sandler also maintained a Hold rating on the stock with a $14.50 price target.
Based on PennyMac Mortgage’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $168.41 million and a net profit of $52.91 million. In comparison, last year the company earned a revenue of $179.36 million and had a net profit of $4.66 million
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PMT in relation to earlier this year.
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PennyMac Mortgage (PMT) Company Description:
PennyMac Mortgage Investment Trust is a finance company, which invests primarily in residential mortgage loans and mortgage-related assets. It operates through following segments: Correspondent Production, Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Corporate Activities. The Correspondent Production segment deals with purchasing, pooling, and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities in capital markets. The Credit Sensitive Strategies segment includes investments in distressed mortgage loans, real estate acquired in settlement of mortgage loans, real estate held for investment, credit risk transfer agreements, non-agency subordinated bonds, and small balance commercial real estate mortgage loans. The Interest Rate Sensitive Strategies segment focuses on investments in mortgage servicing rights, excess servicing spread, agency and senior non-agency mortgage-backed securities, and the related interest rate hedging activities. The Corporate segment consists of certain interest income, management fee, and corporate expense amounts. The company was founded by Stanford L. Kurland on May 18, 2009 and is headquartered in Westlake Village, CA.
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