PNC Financial Services Group Inc. Sells 8,744 Shares of Two Harbors Investments Corp $TWO

PNC Financial Services Group Inc. cut its holdings in shares of Two Harbors Investments Corp (NYSE:TWO) by 64.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,871 shares of the real estate investment trust’s stock after selling 8,744 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Two Harbors Investments were worth $52,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TWO. CWM LLC raised its position in Two Harbors Investments by 68.4% in the 1st quarter. CWM LLC now owns 2,192 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 890 shares during the period. AlphaQuest LLC grew its stake in shares of Two Harbors Investments by 240.4% during the second quarter. AlphaQuest LLC now owns 3,370 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 2,380 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Two Harbors Investments by 233.0% in the first quarter. Smartleaf Asset Management LLC now owns 6,506 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 4,552 shares during the period. Allworth Financial LP increased its holdings in shares of Two Harbors Investments by 25.0% in the second quarter. Allworth Financial LP now owns 8,250 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 1,651 shares during the period. Finally, Federated Hermes Inc. bought a new stake in shares of Two Harbors Investments in the 1st quarter valued at about $140,000. Hedge funds and other institutional investors own 64.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TWO shares. Wall Street Zen upgraded Two Harbors Investments from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “sell (d)” rating on shares of Two Harbors Investments in a report on Tuesday, November 25th. UBS Group decreased their target price on shares of Two Harbors Investments from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. increased their price target on shares of Two Harbors Investments from $9.50 to $10.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Finally, Zacks Research raised shares of Two Harbors Investments from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.96.

Two Harbors Investments Price Performance

Shares of Two Harbors Investments stock opened at $10.17 on Tuesday. The business has a 50 day moving average of $9.77 and a 200 day moving average of $10.16. Two Harbors Investments Corp has a 52 week low of $9.30 and a 52 week high of $14.28. The company has a market cap of $1.06 billion, a PE ratio of -4.07 and a beta of 1.30. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.13.

Two Harbors Investments (NYSE:TWO) last released its quarterly earnings results on Monday, October 27th. The real estate investment trust reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Two Harbors Investments had a negative net margin of 44.10% and a positive return on equity of 11.92%. The business had revenue of $92.71 million for the quarter. As a group, equities research analysts forecast that Two Harbors Investments Corp will post 0.81 earnings per share for the current year.

Two Harbors Investments Profile

Two Harbors Investment Corp. invests in, finances, and manages mortgage servicing rights (MSRs), agency residential mortgage-backed securities (RMBS), and other financial assets through RoundPoint in the United States. The company target assets include agency RMBS collateralized by fixed rate mortgage loans, adjustable rate mortgage loans, hybrid mortgage loans, or derivatives; and other assets, such as financial and mortgage-related assets, including non-agency securities and non-hedging transactions.