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Research analysts at Bank of America increased their price target on shares of PennyMac Mortgage Investment Trust (NYSE:PMT) from $22.50 to $24.00 in a report released on Monday. The firm currently has a “buy” rating on the stock. Bank of America’s price objective indicates a potential upside of 9.99% from the company’s current price.

PennyMac Mortgage Investment Trust (NYSE:PMT) opened at 21.82 on Monday. PennyMac Mortgage Investment Trust has a one year low of $18.91 and a one year high of $24.48. The stock’s 50-day moving average is $21.77 and its 200-day moving average is $22.56. The company has a market cap of $1.618 billion and a price-to-earnings ratio of 8.07.

PennyMac Mortgage Investment Trust (NYSE:PMT) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.34. During the same quarter in the previous year, the company posted $0.86 earnings per share.

PennyMac Mortgage Investment Trust (NYSE:PMT) is a specialty finance company that invests primarily in residential mortgage loans and mortgage-related assets.

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