Western Asset Mortgage Capital (NYSE:WMC – Get a Rating) saw its target price lowered by analysts at Bank of America from $3.00 to $2.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “underperforming” rating on shares of the financial services provider. Bank of America’s target price would indicate a potential upside of 14.61% from the stock’s previous close.

Separately, Zacks Investment Research upgraded Western Asset Mortgage Capital from a “sell” rating to a “hold” rating in a Tuesday, January 18 research report.

NYSE WMC shares were up $0.03 midday Wednesday, hitting $1.75. The company’s stock had a trading volume of 214 shares, compared to an average trading volume of 379,214 shares. The stock has a market capitalization of $106.20 million, a price-earnings ratio of -2.18 and a beta of 2.01. Western Asset Mortgage Capital has a fifty-two week low of $1.70 and a fifty-two week high of $4.19. The stock has a 50-day simple moving average of $2.04 and a 200-day simple moving average of $2.31. The company has a current ratio of 864.63, a quick ratio of 864.63 and a debt ratio of 11.62.

Western Asset Mortgage Capital (NYSE:WMC – Get Rating) last reported results on Wednesday, March 2. The financial services provider reported earnings per share (EPS) of $0.01 for the quarter, missing the Zacks consensus estimate of $0.06 per ($0.05). Western Asset Mortgage Capital posted a negative net margin of 29.55% and a positive return on equity of 5.90%. In the same quarter a year earlier, the company posted earnings per share of $0.12. As a group, equity analysts expect Western Asset Mortgage Capital to post EPS of 0.31 for the current year.

A number of large investors have recently increased or reduced their stakes in the stock. Beach Point Capital Management LP bought a new position in shares of Western Asset Mortgage Capital in Q4, valued at approximately $2,392,000. Millennium Management LLC increased its stake in shares of Western Asset Mortgage Capital by 51.8% in the fourth quarter. Millennium Management LLC now owns 991,626 shares of the financial services provider valued at $2,092,000 after purchasing an additional 338,398 shares last quarter. Geode Capital Management LLC increased its stake in shares of Western Asset Mortgage Capital by 29.0% in the third quarter. Geode Capital Management LLC now owns 709,771 shares of the financial services provider valued at $1,852,000 after purchasing an additional 159,771 shares last quarter. AE Wealth Management LLC increased its position in Western Asset Mortgage Capital by 50.1% during the third quarter. AE Wealth Management LLC now owns 340,216 shares of the financial services provider worth $888,000 after purchasing an additional 113,524 shares during the period. Finally, Teamwork Financial Advisors LLC increased its position in Western Asset Mortgage Capital by 52.7% during the third quarter. Teamwork Financial Advisors LLC now owns 329,778 shares of the financial services provider worth $861,000 after purchasing an additional 113,754 shares during the period. Hedge funds and other institutional investors hold 43.47% of the company’s shares.

About Western Asset Mortgage Capital (Get a rating)

Western Asset Mortgage Capital Corp. operates as a real estate investment trust. The company is committed to managing a diversified portfolio of assets. It focuses on investing, financing and managing real estate-related securities, whole loans and other financial assets. The company was founded on June 3, 2009 and is based in Pasadena, California.

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