Pinnacle Financial Partners Inc. Raises Position in Two Harbors Investment Corp (NYSE:TWO)

Pinnacle Financial Partners Inc. grew its holdings in shares of Two Harbors Investment Corp (NYSE:TWO) by 7.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,935 shares of the real estate investment trust’s stock after acquiring an additional 2,306 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Two Harbors Investment were worth $417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Sandy Spring Bank bought a new position in Two Harbors Investment in the 2nd quarter worth $32,000. Icon Wealth Partners LLC purchased a new position in Two Harbors Investment during the first quarter valued at $41,000. Advisory Services Network LLC grew its holdings in Two Harbors Investment by 1,900.0% during the first quarter. Advisory Services Network LLC now owns 4,000 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 3,800 shares during the period. Signaturefd LLC grew its holdings in Two Harbors Investment by 31.8% during the first quarter. Signaturefd LLC now owns 5,335 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 1,288 shares during the period. Finally, CENTRAL TRUST Co increased its position in Two Harbors Investment by 300.7% in the second quarter. CENTRAL TRUST Co now owns 6,663 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 5,000 shares in the last quarter. 63.19% of the stock is owned by hedge funds and other institutional investors.

NYSE:TWO traded up $0.02 on Wednesday, reaching $13.33. 58,316 shares of the company’s stock traded hands, compared to its average volume of 1,861,831. The stock has a 50-day simple moving average of $13.17 and a 200-day simple moving average of $13.27. Two Harbors Investment Corp has a 12 month low of $12.06 and a 12 month high of $15.83. The firm has a market cap of $3.64 billion, a PE ratio of 6.77 and a beta of 0.64. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.09.

Two Harbors Investment (NYSE:TWO) last released its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Two Harbors Investment had a positive return on equity of 13.49% and a negative net margin of 57.33%. The business had revenue of $68.59 million during the quarter, compared to the consensus estimate of $63.20 million. During the same period last year, the company earned $0.49 EPS. On average, equities analysts anticipate that Two Harbors Investment Corp will post 1.64 earnings per share for the current year.

In related news, Director Karen Hammond acquired 5,600 shares of Two Harbors Investment stock in a transaction dated Thursday, August 22nd. The shares were purchased at an average price of $13.30 per share, for a total transaction of $74,480.00. Following the completion of the transaction, the director now directly owns 47,262 shares in the company, valued at approximately $628,584.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Siering bought 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was bought at an average cost of $13.11 per share, for a total transaction of $65,550.00. The disclosure for this purchase can be found here. 0.86% of the stock is currently owned by company insiders.

Several research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Two Harbors Investment from $14.50 to $13.50 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. ValuEngine upgraded Two Harbors Investment from a “sell” rating to a “hold” rating in a research note on Friday, August 23rd. Raymond James set a $15.00 target price on shares of Two Harbors Investment and gave the stock a “buy” rating in a report on Wednesday, August 21st. Maxim Group restated a “buy” rating and set a $15.00 target price on shares of Two Harbors Investment in a research note on Thursday, August 8th. Finally, Nomura set a $14.00 price target on shares of Two Harbors Investment and gave the company a “hold” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Two Harbors Investment currently has an average rating of “Hold” and a consensus target price of $14.81.

Two Harbors Investment Profile

Two Harbors Investment Corp. operates as a real estate investment trust (REIT) that focuses on investing in, financing, and managing residential mortgage-backed securities (RMBS), non-agency securities, mortgage servicing rights, and other financial assets in the United States. Its target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, and hybrid adjustable-rate mortgage (ARMs); non-agency securities collateralized by prime mortgage loans, Alt-A mortgage loans, pay-option ARM loans, and subprime mortgage loans; and other assets, such as financial and mortgage-related assets, as well as residential mortgage loans and non-hedging transactions.

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Institutional Ownership by Quarter for Two Harbors Investment (NYSE:TWO)

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