Comerica Bank Has $1.15 Million Holdings in PennyMac Mortgage Investment Trust (PMT)

Comerica Bank lowered its stake in shares of PennyMac Mortgage Investment Trust (NYSE:PMT) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,089 shares of the real estate investment trust’s stock after selling 5,458 shares during the period. Comerica Bank owned 0.10% of PennyMac Mortgage Investment Trust worth $1,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Chicago Equity Partners LLC purchased a new position in PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $2,901,000. Sterling Capital Management LLC purchased a new position in PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $1,113,000. Acadian Asset Management LLC lifted its stake in PennyMac Mortgage Investment Trust by 89.3% in the 3rd quarter. Acadian Asset Management LLC now owns 509,520 shares of the real estate investment trust’s stock valued at $10,311,000 after buying an additional 240,304 shares in the last quarter. Smith Graham & Co. Investment Advisors LP lifted its stake in PennyMac Mortgage Investment Trust by 8.3% in the 3rd quarter. Smith Graham & Co. Investment Advisors LP now owns 413,943 shares of the real estate investment trust’s stock valued at $8,378,000 after buying an additional 31,770 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $1,372,000. Institutional investors own 68.10% of the company’s stock.

PMT opened at $21.29 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.54 and a current ratio of 0.54. PennyMac Mortgage Investment Trust has a 1-year low of $15.44 and a 1-year high of $21.35. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 2.49 and a beta of 0.41.

PennyMac Mortgage Investment Trust (NYSE:PMT) last released its earnings results on Thursday, November 1st. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.25. PennyMac Mortgage Investment Trust had a net margin of 40.40% and a return on equity of 10.64%. The business had revenue of $108.50 million for the quarter, compared to analyst estimates of $121.87 million. During the same period last year, the company posted $0.47 EPS. The business’s revenue was up 43.1% on a year-over-year basis. Sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.68 EPS for the current fiscal year.

A number of research analysts recently weighed in on PMT shares. JMP Securities raised their price target on shares of PennyMac Mortgage Investment Trust from $20.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday, November 2nd. Wells Fargo & Co started coverage on shares of PennyMac Mortgage Investment Trust in a research note on Tuesday, September 18th. They issued a “market perform” rating and a $20.00 price target on the stock. Credit Suisse Group raised their price target on shares of PennyMac Mortgage Investment Trust from $20.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, September 25th. Finally, ValuEngine raised shares of PennyMac Mortgage Investment Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.40.

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PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust, a specialty finance company, invests primarily in residential mortgage loans and mortgage-related assets in the United States. The company's Correspondent Production segment engages in purchasing, pooling, and reselling newly originated prime credit mortgage loans directly or in the form of mortgage-backed securities (MBS).

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Institutional Ownership by Quarter for PennyMac Mortgage Investment Trust (NYSE:PMT)

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