Bank of America Corp DE Has $7.65 Million Stake in Two Harbors Investments Corp $TWO

Key Points

• Bank of America cut its Two Harbors stake by 40.6% in the first quarter, selling 458,844 shares. It still held 670,152 shares worth approximately $7.65 million, representing 0.64% of the company.
• Analysts have a mixed outlook, but the overall consensus remains “Hold”, with an average price target of $12.75. Ratings range from Strong Buy to Sell.
• Two Harbors reported quarterly EPS of $0.28, in line with estimates, and maintains a substantial dividend of $0.34 per share quarterly, equivalent to a 11.2% yield at the time of the report.

Bank of America Corp DE trimmed its stake in Two Harbors Investments Corp (NYSE:TWO - Free Report) by 40.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 670,152 shares of the real estate investment trust's stock after selling 458,844 shares during the quarter. Bank of America Corp DE owned 0.64% of Two Harbors Investments worth $7,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in TWO. Quarry LP grew its holdings in shares of Two Harbors Investments by 695.6% during the 3rd quarter. Quarry LP now owns 3,421 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 2,991 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Two Harbors Investments by 34.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,825 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 981 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Two Harbors Investments during the third quarter worth $42,000. Kemnay Advisory Services Inc. acquired a new stake in Two Harbors Investments during the fourth quarter valued at $68,000. Finally, Los Angeles Capital Management LLC acquired a new stake in Two Harbors Investments during the fourth quarter valued at $75,000. 64.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings raised Two Harbors Investments from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on Two Harbors Investments from $11.00 to $12.00 and gave the company an "underweight" rating in a report on Friday, July 17th. Zacks Research raised Two Harbors Investments from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Royal Bank Of Canada boosted their price target on Two Harbors Investments from $11.00 to $12.00 and gave the company a "sector perform" rating in a research note on Monday, July 27th. Finally, Compass Point restated a "neutral" rating and issued a $13.00 price objective on shares of Two Harbors Investments in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $12.75.

Two Harbors Investments Price Performance

Shares of NYSE:TWO opened at $12.18 on Wednesday. Two Harbors Investments Corp has a fifty-two week low of $11.98 and a fifty-two week high of $12.19. The business has a 50-day moving average of $12.14 and a two-hundred day moving average of $11.59. The stock has a market capitalization of $1.28 billion, a P/E ratio of -16.46 and a beta of 1.04. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.08 and a quick ratio of 1.08.

Two Harbors Investments (NYSE:TWO - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. Two Harbors Investments had a positive return on equity of 12.79% and a negative net margin of 6.09%.The company had revenue of $247.57 million during the quarter, compared to the consensus estimate of $9.45 million. On average, equities research analysts predict that Two Harbors Investments Corp will post 0.89 EPS for the current fiscal year.

Two Harbors Investments Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, July 2nd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend was Thursday, July 2nd. Two Harbors Investments's dividend payout ratio is currently -64.86%.

About Two Harbors Investments

Two Harbors Investments Corp. is a mortgage real estate investment trust (mREIT) that primarily invests in residential mortgage-backed securities (RMBS) issued or guaranteed by government-sponsored enterprises, as well as non-agency residential mortgage loans, mortgage servicing rights and credit risk transfer securities. The company seeks to generate attractive risk-adjusted returns for its shareholders by employing leverage to enhance net interest income derived from its portfolio of high-quality fixed-income assets.

Headquartered in Minneapolis, Minnesota, Two Harbors operates through a self-managed platform that combines portfolio management, risk-management and securitization expertise.

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