Nomura analyst Matthew Howlett maintained a Buy rating on PennyMac Mortgage (PMT) on February 7 and set a price target of $24.00. The company’s shares closed last Monday at $23.57, close to its 52-week high of $23.79.
According to TipRanks.com, Howlett is a 4-star analyst with an average return of 11.1% and a 73.3% success rate. Howlett covers the Financial sector, focusing on stocks such as Federal National Mortgage Association, ARMOUR Residential REIT, and Ellington Financial.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PennyMac Mortgage with a $23.83 average price target, implying a 0.8% upside from current levels. In a report issued on February 7, Piper Sandler also maintained a Buy rating on the stock with a $25.00 price target.
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PennyMac Mortgage’s market cap is currently $2.36B and has a P/E ratio of 9.65. The company has a Price to Book ratio of 1.10.
Based on the recent corporate insider activity of 42 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 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.
