MBIA (MBI) Receives New Coverage from Analysts at Keefe, Bruyette & Woods

Equities researchers at Keefe, Bruyette & Woods started coverage on shares of MBIA (NYSE:MBI) in a research report issued on Monday, February 5th, Marketbeat reports. The brokerage set a “market perform” rating on the insurance provider’s stock.

Separately, ValuEngine lowered MBIA from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. MBIA presently has an average rating of “Hold” and a consensus target price of $14.50.

Shares of MBIA (NYSE:MBI) traded up $0.07 during trading hours on Monday, hitting $7.32. The stock had a trading volume of 1,912,793 shares, compared to its average volume of 1,396,665. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market capitalization of $665.55, a price-to-earnings ratio of -0.50 and a beta of 2.36. MBIA has a 12-month low of $6.04 and a 12-month high of $10.89.

MBIA announced that its Board of Directors has initiated a share buyback program on Tuesday, November 7th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

In other news, Director Joseph W. Brown purchased 50,000 shares of the stock in a transaction dated Tuesday, December 19th. The shares were purchased at an average cost of $7.25 per share, with a total value of $362,500.00. Following the completion of the purchase, the director now directly owns 2,399,634 shares of the company’s stock, valued at approximately $17,397,346.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.11% of the company’s stock.

Several large investors have recently modified their holdings of MBI. Financial Partners Capital Management LLC boosted its stake in shares of MBIA by 12.4% in the second quarter. Financial Partners Capital Management LLC now owns 11,294 shares of the insurance provider’s stock worth $107,000 after acquiring an additional 1,250 shares during the last quarter. Nine Chapters Capital Management LLC acquired a new position in MBIA during the third quarter worth $111,000. Tower Research Capital LLC TRC acquired a new position in MBIA during the second quarter worth $116,000. Commerzbank Aktiengesellschaft FI acquired a new position in MBIA during the fourth quarter worth $116,000. Finally, Intl Fcstone Inc. acquired a new position in MBIA during the second quarter worth $127,000.

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MBIA Company Profile

MBIA Inc is a holding company. The Company, through its subsidiaries, is engaged in the financial guarantee insurance businesses in the industry. The Company manages its business within three segments: United States (U.S.) public finance insurance; corporate, and international and structured finance insurance.

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