Keefe Bruyette downgraded PennyMac Mortgage (PMT) to Market Perform from Outperform with a price target of $13.50, down from $14.50. The firm reduced estimates post the Q2 report, now seeing the company’s earnings per share moving in line with the 40c dividend by the second half of 2027 versus prior expectations for the end of 2026. Keefe cites PennyMac’s book value decline in Q2 and the slower timeline to reaching a double-digit return on equity for the downgrade. It sees limited near-term catalysts for the shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PMT:
- PennyMac Mortgage downgraded to Market Perform at Keefe Bruyette
- PennyMac’s Earnings Call: Balancing Achievements and Challenges
- PennyMac Mortgage Investment Trust Reports Q2 2025 Results
- PennyMac Mortgage reports Q2 EPS (4c) vs 17c last year
- PennyMac Mortgage Holds Successful Annual Shareholder Meeting