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UPDATE: Deutsche Bank Reiterates Hold Rating, Lowers PT on Hatteras Financial Corp. on Soft 4Q Results

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Hatteras Financial PT Cut By MLV

In a report published Wednesday, Deutsche Bank reiterated its Hold rating on Hatteras Financial Corp. (NYSE: HTS), but lowered its price target from $28.00 to $26.75.

Deutsche Bank noted, “Expect div cut in 1Q; increase in 2H from slower prepays & swap maturities. We view 4Q results as soft given core earnings below our estimate and BVPS down roughly 5% seq. We expect a dividend cut in 1Q to 60c given our expectation of additional spread compression; however, we expect the dividend to expand in 2H due to slower prepayments and lower financing costs resulting from some higher cost swaps maturing. We are reducing our target to $26.75 given the BV decline, and we are maintaining our Hold rating given our portfolio return expectations and the current valuation.”

Hatteras Financial Corp. closed on Tuesday at $27.17.

Latest Ratings for HTS

DateFirmActionFromTo
Mar 2015Ladenburg ThalmannUpgradesNeutralBuy
Feb 2015Deutsche BankMaintainsHold
Feb 2015Keefe Bruyette & WoodsMaintainsOutperform

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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