Rocket Companies, Inc. $RKT Shares Acquired by Bank of Hawaii

Bank of Hawaii increased its position in Rocket Companies, Inc. (NYSE:RKT) by 101.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 92,777 shares of the company’s stock after buying an additional 46,672 shares during the quarter. Bank of Hawaii’s holdings in Rocket Companies were worth $1,796,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new position in Rocket Companies in the 4th quarter worth $26,000. Acumen Wealth Advisors LLC purchased a new stake in Rocket Companies during the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. increased its holdings in Rocket Companies by 369.7% during the 4th quarter. Pinnacle Bancorp Inc. now owns 1,503 shares of the company’s stock worth $29,000 after purchasing an additional 1,183 shares during the last quarter. City State Bank acquired a new position in shares of Rocket Companies in the 4th quarter valued at approximately $30,000. Finally, Smithfield Trust Co acquired a new position in shares of Rocket Companies in the 4th quarter valued at approximately $32,000. 4.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RKT. JPMorgan Chase & Co. decreased their price target on shares of Rocket Companies from $24.00 to $16.50 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Compass Point initiated coverage on shares of Rocket Companies in a report on Tuesday, March 10th. They issued a “buy” rating and a $21.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Rocket Companies from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 9th. Citizens Jmp assumed coverage on shares of Rocket Companies in a report on Wednesday, March 25th. They set a “market perform” rating for the company. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Rocket Companies from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Rocket Companies presently has a consensus rating of “Hold” and an average target price of $20.93.

Rocket Companies Trading Down 0.1%

NYSE:RKT opened at $14.41 on Friday. Rocket Companies, Inc. has a 12-month low of $12.17 and a 12-month high of $24.36. The firm has a market capitalization of $40.76 billion, a P/E ratio of 288.14 and a beta of 2.19. The company has a debt-to-equity ratio of 1.13, a current ratio of 4.37 and a quick ratio of 4.37. The business has a 50 day simple moving average of $14.34 and a 200 day simple moving average of $16.91.

Rocket Companies (NYSE:RKT) last issued its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.76 billion. Rocket Companies had a return on equity of 4.30% and a net margin of 2.78%.The firm’s revenue for the quarter was up 167.1% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share. Equities research analysts predict that Rocket Companies, Inc. will post 0.65 EPS for the current year.

Rocket Companies Profile

Rocket Companies, Inc is a Detroit-based holding company whose businesses are centered on digital mortgage origination and related consumer finance and real estate services. The company grew out of the Quicken Loans franchise and completed an initial public offering in 2020. Founder Dan Gilbert remains a prominent figure associated with the firm, which operates a suite of brands that aim to simplify the home financing and buying experience through technology and scale.

The company’s core activity is mortgage lending through its Rocket Mortgage platform, which offers online application, underwriting and servicing for home purchase and refinance loans.