Bank of America lowers Home Point Capital (NASDAQ:HMPT) price target to $4.00

Capital of point of origin (NASDAQ: HMPT) had its price target reduced by Bank of America equity researchers from $5.00 to $4.00 in a research note released on Tuesday, reports The Fly. Bank of America’s price target would point to a potential decline of 0.74% from the company’s previous close.

Several other equity research analysts have also recently commented on the company. Goldman Sachs Group has downgraded Home Point Capital from a “neutral” rating to a “sell” rating and set a price target of $4.50 for the stock. in a research report on Thursday, January 6. JPMorgan Chase & Co. downgraded shares of Home Point Capital from an “overweight” rating to an “underweight” rating in a Wednesday, January 19 research note. Finally, Zacks Investment Research downgraded shares of Home Point Capital from a “hold” rating to a “sell” rating in a Friday, January 21 research report. Four analysts gave the stock a sell rating, three gave the company a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.65.

HMPT stock opened at $4.03 on Tuesday. The stock’s 50-day simple moving average is $4.34 and its 200-day simple moving average is $4.28. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt ratio of 9.69. Home Point Capital has a 12 month minimum of $3.60 and a 12 month maximum of $12.50. The stock has a market capitalization of $562.30 million and a PE ratio of 1.71.

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Institutional investors have recently changed their stake in the company. Morgan Stanley bought a new equity stake from Home Point Capital in Q1 worth $27,000. Royal Bank of Canada increased its position in Home Point Capital by 406.0% in the second quarter. Royal Bank of Canada now owns 4,235 shares of the company worth $25,000 after buying 3,398 more shares last quarter. Advisor Group Holdings Inc. bought a new position in shares of Home Point Capital in the third quarter worth approximately $39,000. Bank of America Corp DE increased its position in shares of Home Point Capital by 246.3% during the 4th quarter. Bank of America Corp DE now owns 10,524 shares of the company valued at $47,000 after buying an additional 7,485 shares last quarter. Finally, Citadel Advisors LLC bought a new stock position in Home Point Capital during Q3 valued at around $69,000. Institutional investors and hedge funds own 94.34% of the company’s shares.

About Home Point Capital

Home Point Capital Inc, together with its subsidiaries, operates as a residential mortgage loan originator and service provider. It operates through two segments, Origination and Servicing. The Origination segment obtains loans through direct, wholesale and correspondent channels. The Servicing segment offers collection of loan repayments; remittance of principal and interest payments to investors; the management of funds blocked for the payment of expenses related to the mortgage, such as taxes and insurance; and perform loss mitigation activities on behalf of investors and administer mortgage loans.

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