Keefe Bruyette & Woods Maintains PennyMac Mortgage Investment Trust to Outperform with Price Target $18.50

Brokerage firm Keefe Bruyette & Woods Maintains its rating on PennyMac Mortgage Investment Trust(NYSE:PMT). In a research note issued to the investors, the brokerage major Raises the price-target to $18.50 per share. The shares have been rated Outperform. The rating by Keefe Bruyette & Woods was issued on Jun 13, 2016.

PennyMac Mortgage Investment Trust (PMT) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -0.12% at a volume of 12,07,324. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $16.24. The peak price level was also seen at $16.24 while the days lowest was $15.99. Finally the shares closed at $16.05. The 52-week high of the shares is $19.01 while the 52-week low is $10.91. According to the latest information available, the market cap of the company is $1,101 M.

PennyMac Mortgage Investment Trust(PMT) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $52.22M. Analysts had an estimated revenue of $30.22M. Earnings per share were $0.20.

Several Insider Transactions has been reported to the SEC. On Jun 6, 2016, Gregory L Hendry (Chief Accounting Officer) sold 525 shares at $15.71 per share price.Also, On Jun 6, 2016, Stacey D. Stewart (director) sold 647 shares at $15.71 per share price.On Jun 6, 2016, David Spector (President and COO) sold 8,235 shares at $15.79 per share price, according to the Form-4 filing with the securities and exchange commission.

PennyMac Mortgage Investment Trust is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets. The Company conducts all of its operations and makes all of its investments through PennyMac Operating Partnership L.P. and its subsidiaries. The Company operates through two segments. The correspondent production segment represents the Company’s operations aimed at serving as an intermediary between mortgage lenders and the capital markets by purchasing pooling and reselling newly originated prime credit quality mortgage loans either directly or in the form of mortgage-backed securities (MBS) using the services of PNMAC Capital Management and PennyMac Loan Services LLC. The investment activities segment represents the Company’s investments in mortgage-related assets which include distressed mortgage loans real estate acquired in settlement of loans MBS mortgage servicing rights and excess servicing spread.

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