UPDATE: Deutsche Bank Raises PT to $24 on American Capital Mortgage; Q2 Dividend Increase

Deutsche Bank increases its price target from $23.50 to $24 on Buy-rated American Capital Mortgage

as it expects the company to announce an increase in dividends for its second quarter. Deutsche Bank says, "Expect dividend increase in 2Q; Reiterate Buy. MTGE reported strong 1Q results, as core earnings beat our estimate and book value increased by 4.4%. We are increasing our estimates given an increase to our portfolio spread assumptions resulting from the capital raised in late 1Q being deployed at accretive spreads. We expect a dividend increase in 2Q." MTGE closed at $23.50 on Monday.