KBW Reiterates a Buy Rating on PennyMac Mortgage

By Jason Carr

KBW analyst Bose George reiterated a Buy rating on PennyMac Mortgage (NYSE: PMT) yesterday and set a price target of $18. The company’s shares closed yesterday at $17.66.

According to TipRanks.com, George is a top 100 analyst with an average return of 15.7% and a 74.4% success rate. George covers the Financial sector, focusing on stocks such as Federal Home Loan Mortgage Corporation, Fidelity National Financial Ventures, and Stewart Information Services Corp.

PennyMac Mortgage has an analyst consensus of Moderate Buy, with a price target consensus of $18.

PennyMac Mortgage’s market cap is currently $1.17B and has a P/E ratio of 15.54. The company has a book value ratio of 0.8718.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PMT in relation to earlier this year. Most recently, in February 2017, Jeffrey Grogin, the CALO and Secretary of PMT sold 2,500 shares for a total of $42,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

PennyMac Mortgage Investment Trust is a finance company which through its subsidiaries invests primarily in residential mortgage loans and mortgage-related assets. It operates through two segments: Correspondent Lending and Investment Activities. The Correspondent Lending segment focuses on the purchase for resale of newly originated mortgage loans. The Investment Activities segment focuses on mortgage assets that are acquired and held for investment purposes. The company’s objective is to provide attractive risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation. It is managed by PNMAC Capital Management LLC an investment adviser. Its primary focus is on investing in distressed residential mortgage loans. PennyMac Mortgage Investment Trust was founded on May 18, 2009 and is headquartered in Los Angeles, CA.