Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Western Asset Mortgage Capital

Related WMC
UPDATE: Compass Point Downgrades Western Asset Mortgage Capital to Neutral on Valuation
UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Western Asset Mortgage Capital Corp.
13.7% To 19.3% Yields By Top 10 Financial Dividend Dogs As Of July 31 (Seeking Alpha)

In a report published Wednesday, Deutsche Bank reiterated its Buy rating on Western Asset Mortgage Capital (NYSE: WMC), but slightly lowered its price target from $25.00 to $24.00.

Deutsche Bank noted, “Last week, WMC reported strong 3Q results, with EPS beating our estimate by 10c due to higher average leverage and BV increasing 8% seq. to $21.76 per share. Given recent weakness, WMC also authorized a stock repurchase of up to 2.4 million shares. While returns on new investments are lower than in 1H12, we continue to expect WMC to post midteen ROEs. Given our portfolio return estimates and with shares trading below BV, we are reiterating our Buy rating. We are reducing our target to $24 per share.”

Western Asset Mortgage Capital closed on Tuesday at $19.22.

Latest Ratings for wmc

May 2015Deutsche BankMaintainsHold
May 2015Keefe Bruyette & WoodsMaintainsMarket Perform
Mar 2015Deutsche BankMaintainsHold

View More Analyst Ratings for wmc
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


Related Articles (wmc)

Get Benzinga's Newsletters