IMPAC Mortgage Holdings, Inc (IMH) Given New $18.00 Price Target at JMP Securities

IMPAC Mortgage Holdings, Inc (NYSEMKT:IMH) had its price objective lowered by JMP Securities from $20.00 to $18.00 in a research note published on Friday morning. JMP Securities currently has an outperform rating on the financial services provider’s stock.

IMH has been the subject of a number of other reports. ValuEngine downgraded shares of IMPAC Mortgage Holdings from a buy rating to a hold rating in a report on Saturday, June 24th. BidaskClub raised shares of IMPAC Mortgage Holdings from a strong sell rating to a sell rating in a report on Wednesday, August 9th.

IMPAC Mortgage Holdings (IMH) traded up 0.60% during trading on Friday, reaching $13.51. The company had a trading volume of 42,771 shares. The stock has a 50 day moving average price of $14.42 and a 200-day moving average price of $14.39. The company has a market capitalization of $282.29 million, a PE ratio of 5.16 and a beta of 0.91. IMPAC Mortgage Holdings has a 52-week low of $12.04 and a 52-week high of $17.45.

IMPAC Mortgage Holdings (NYSEMKT:IMH) last posted its earnings results on Tuesday, August 8th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by $0.97. IMPAC Mortgage Holdings had a net margin of 16.25% and a return on equity of 9.53%. The firm had revenue of $39.63 million during the quarter. On average, equities research analysts anticipate that IMPAC Mortgage Holdings will post $3.00 earnings per share for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its position in IMPAC Mortgage Holdings by 194.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 110,840 shares of the financial services provider’s stock worth $1,677,000 after buying an additional 73,160 shares during the last quarter. CQS Cayman LP purchased a new position in shares of IMPAC Mortgage Holdings during the second quarter valued at about $563,000. Vanguard Group Inc. increased its position in shares of IMPAC Mortgage Holdings by 6.9% in the second quarter. Vanguard Group Inc. now owns 456,707 shares of the financial services provider’s stock valued at $6,910,000 after buying an additional 29,543 shares in the last quarter. State Street Corp increased its position in shares of IMPAC Mortgage Holdings by 15.5% in the second quarter. State Street Corp now owns 136,890 shares of the financial services provider’s stock valued at $2,071,000 after buying an additional 18,349 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of IMPAC Mortgage Holdings by 14.0% in the second quarter. Northern Trust Corp now owns 119,003 shares of the financial services provider’s stock valued at $1,801,000 after buying an additional 14,641 shares in the last quarter.

IMPAC Mortgage Holdings Company Profile

Impac Mortgage Holdings, Inc is an independent residential mortgage lender. The Company operates through three segments: Mortgage Lending, Real Estate Services and Long-Term Mortgage Portfolio. It originates, sells and services conventional, conforming agency and Government insured residential mortgage loans.