NMI (NMIH) Upgraded to Hold by Zacks Investment Research

NMI (NASDAQ:NMIH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “

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Several other brokerages have also recently commented on NMIH. BidaskClub cut shares of NMI from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 15th. Compass Point upgraded shares of NMI from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a report on Tuesday, February 6th. BTIG Research reiterated a “buy” rating and issued a $21.00 target price on shares of NMI in a report on Sunday, February 18th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $25.00 target price on shares of NMI in a report on Friday, February 23rd. Finally, TheStreet cut shares of NMI from a “b” rating to a “c+” rating in a report on Tuesday, March 20th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $21.86.

NASDAQ:NMIH opened at $17.70 on Friday. NMI has a twelve month low of $10.10 and a twelve month high of $21.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.25 and a quick ratio of 0.25. The stock has a market cap of $1,153.07, a PE ratio of 31.05 and a beta of 0.87.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.05. NMI had a net margin of 12.07% and a return on equity of 7.89%. The company had revenue of $54.54 million during the quarter, compared to analyst estimates of $51.32 million. During the same quarter last year, the firm posted $0.04 EPS. The business’s revenue for the quarter was up 48.9% on a year-over-year basis. equities research analysts expect that NMI will post 1.34 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC boosted its holdings in shares of NMI by 31.8% in the third quarter. Sterling Capital Management LLC now owns 33,100 shares of the financial services provider’s stock worth $410,000 after buying an additional 7,987 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of NMI by 11.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 260,892 shares of the financial services provider’s stock worth $3,236,000 after buying an additional 27,476 shares during the period. Comerica Bank purchased a new stake in shares of NMI in the fourth quarter worth approximately $1,077,000. EAM Investors LLC purchased a new stake in shares of NMI in the fourth quarter worth approximately $2,268,000. Finally, Pinebridge Investments L.P. purchased a new stake in shares of NMI in the fourth quarter worth approximately $469,000. Institutional investors own 84.31% of the company’s stock.

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About NMI

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, Internet-sourced lenders, and other non-bank lenders.

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Analyst Recommendations for NMI (NASDAQ:NMIH)

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