Zacks Investment Research Lowers Guild (NYSE:GHLD) to Hold

Zacks Investment Research cut shares of Guild (NYSE:GHLD) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Guild Holdings Company provides financial services. It originates, sells and services residential mortgage loans principally in the United States. Guild Holdings Company is based in San Diego, California. “

Separately, JPMorgan Chase & Co. upgraded shares of Guild from a neutral rating to an overweight rating and set a $16.50 price target on the stock in a research note on Thursday, November 11th.

Shares of Guild stock opened at $13.98 on Tuesday. The company has a market capitalization of $853.62 million, a P/E ratio of 2.65 and a beta of -0.19. The company has a fifty day moving average of $14.45 and a 200 day moving average of $14.62. Guild has a fifty-two week low of $12.25 and a fifty-two week high of $17.93.

Guild (NYSE:GHLD) last announced its quarterly earnings results on Wednesday, November 10th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.53 by $0.74. The company had revenue of $412.96 million during the quarter, compared to analysts’ expectations of $330.49 million. During the same quarter in the previous year, the firm earned ($999.00) EPS. As a group, analysts anticipate that Guild will post 4.5 earnings per share for the current fiscal year.

The firm also recently announced a None dividend, which was paid on Wednesday, December 8th. Stockholders of record on Monday, November 22nd were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, November 19th.

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp purchased a new stake in shares of Guild during the 2nd quarter valued at about $208,000. Zimmer Partners LP raised its position in shares of Guild by 5.3% during the 2nd quarter. Zimmer Partners LP now owns 373,599 shares of the company’s stock valued at $5,731,000 after buying an additional 18,755 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Guild by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 43,341 shares of the company’s stock valued at $664,000 after buying an additional 783 shares in the last quarter. Algebris UK Ltd purchased a new stake in shares of Guild during the 2nd quarter valued at about $2,027,000. Finally, Morgan Stanley purchased a new stake in shares of Guild during the 1st quarter valued at about $138,000. Hedge funds and other institutional investors own 7.67% of the company’s stock.

Guild Company Profile

Guild Holdings Company, a mortgage company, originates, sells, and services residential mortgage loans in the United States. The company operates approximately 200 branches with licenses in 48 states. It originates residential mortgages through retail and correspondent channels. The company was founded in 1960 and is based in San Diego, California.

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