There’s a lot to be optimistic about in the Financial sector as 2 analysts just weighed in on New York Mortgage Trust (NASDAQ:NYMT) and Fidus Investment Corporation (NASDAQ:FDUS) with bullish sentiments.
New York Mortgage Trust (NYMT)
In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on New York Mortgage Trust, with a price target of $6.75. The company’s shares opened today at $6.25.
Diana observed:
“NYMT reported 2Q18 comprehensive income of $0.15, versus its dividend of $0.20, partly due to lower average earning assets and a low volume of distressed mortgage sales.”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 7.4% and a 63.2% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Arlington Asset Investment, and Westamerica Bancorporation.
Currently, the analyst consensus on New York Mortgage Trust is a Moderate Buy with an average price target of $6.25.
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Fidus Investment Corporation (FDUS)
In a report released today, Chris Kotowski from Oppenheimer maintained a Buy rating on Fidus Investment Corporation, with a price target of $18. The company’s shares opened today at $14.72.
Kotowski observed:
“Fidus’ 2Q18 NII (net investment income) was slightly below our expectations and the dividend, and there were two new non-accruals in the quarter. However, NAV was relatively stable, there is lots of spillover income, and we expect dividend coverage in coming quarters. While this quarter had some challenges, FDUS has one of the industry’s best long-term track records in terms of dividend coverage and NAV preservation, and we think the shares are very attractive at just 90% of NAV. FDUS’s 2Q NII of $0.36 per share compares to our $0.37 estimate, slightly short of the $0.39 regular dividend. The shortfall vs. the dividend results mainly from a share hurdle from last year’s equity offering and will take a few quarters to overcome.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 11.5% and a 68.8% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Solar Senior Capital Ltd.
Currently, the analyst consensus on Fidus Investment Corporation is a Moderate Buy with an average price target of $18.
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