Pinnacle Financial Partners Inc. Purchases 2,306 Shares of Two Harbors Investment Corp (NYSE:TWO)
Pinnacle Financial Partners Inc. raised its position in shares of Two Harbors Investment Corp (NYSE:TWO) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,935 shares of the real estate investment trust’s stock after buying an additional 2,306 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Two Harbors Investment were worth $417,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in TWO. Sandy Spring Bank purchased a new position in Two Harbors Investment during the second quarter worth about $32,000. Icon Wealth Partners LLC bought a new stake in Two Harbors Investment in the 1st quarter worth approximately $41,000. Advisory Services Network LLC boosted its stake in Two Harbors Investment by 1,900.0% in the first quarter. Advisory Services Network LLC now owns 4,000 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 3,800 shares in the last quarter. Signaturefd LLC boosted its stake in Two Harbors Investment by 31.8% in the first quarter. Signaturefd LLC now owns 5,335 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 1,288 shares in the last quarter. Finally, CENTRAL TRUST Co grew its position in Two Harbors Investment by 300.7% during the second quarter. CENTRAL TRUST Co now owns 6,663 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 5,000 shares during the last quarter. 63.19% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on TWO shares. Maxim Group reiterated a “buy” rating and issued a $15.00 target price on shares of Two Harbors Investment in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Two Harbors Investment from $14.50 to $13.50 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Nomura set a $14.00 price objective on Two Harbors Investment and gave the company a “hold” rating in a research note on Wednesday, August 7th. ValuEngine upgraded Two Harbors Investment from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. Finally, Raymond James set a $15.00 target price on Two Harbors Investment and gave the company a “buy” rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Two Harbors Investment currently has a consensus rating of “Hold” and an average price target of $14.81.
Shares of Two Harbors Investment stock traded up $0.02 on Wednesday, hitting $13.33. The stock had a trading volume of 58,316 shares, compared to its average volume of 1,861,831. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.09. Two Harbors Investment Corp has a one year low of $12.06 and a one year high of $15.83. The stock’s 50-day simple moving average is $13.17 and its two-hundred day simple moving average is $13.27. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 6.77 and a beta of 0.64.
Two Harbors Investment (NYSE:TWO) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.03). The firm had revenue of $68.59 million for the quarter, compared to the consensus estimate of $63.20 million. Two Harbors Investment had a negative net margin of 57.33% and a positive return on equity of 13.49%. During the same quarter in the prior year, the company earned $0.49 earnings per share. As a group, equities analysts predict that Two Harbors Investment Corp will post 1.64 EPS for the current fiscal year.
About Two Harbors Investment
Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); non-agency securities collateralized by prime mortgage loans, Alt-A mortgage loans, pay-option ARM loans, and subprime mortgage loans; and other assets, such as financial and mortgage-related assets, as well as residential mortgage loans and non-hedging transactions.
Further Reading: Index Funds
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