Walter Investment Gets a Sell from KBW

By Ryan Adsit

KBW analyst Bose George reiterated a Sell rating on Walter Investment (NYSE: WAC) yesterday and set a price target of $1. The company’s shares closed yesterday at $1.05.

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.

Walter Investment has an analyst consensus of Moderate Sell, with a price target consensus of $1.

Based on Walter Investment’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $478 million and GAAP net loss of $22.23 million. In comparison, last year the company earned revenue of $463 million and had a GAAP net loss of $173 million.

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Walter Investment Management Corp operates as a mortgage banking company, which focuses on the servicing and origination of residential loans, including reverse loans. It operates through the following business segments: Servicing, Originations, Reverse Mortgage, and Other. The Servicing segment consists of operations that perform servicing for third-party credit owners of mortgage loans as well as complementary businesses consisting of an insurance agency serving residential loan borrowers and credit owners and a collections agency that performs collections of post charge-off deficiency balances for third parties. The Originations segment originates and purchases mortgage loans through the consumer originations and consumer direct channels. The Reverse Mortgage segment focuses on the origination or purchase, securitization and servicing of reverse loans. The Other segment consists of assets and liabilities of the Non-Residual Trusts, corporate debt, and asset the firm’s management business. The company was founded in 1958 and is headquartered in Tampa, FL.