Keefe, Bruyette & Woods Issues Positive Forecast for MBIA (NYSE:MBI) Stock Price

MBIA (NYSE:MBI) had its price objective boosted by analysts at Keefe, Bruyette & Woods from $8.00 to $8.50 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 10.82% from the company’s current price.

Several other equities analysts have also recently weighed in on MBI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBIA in a research note on Wednesday, October 8th. Wall Street Zen raised MBIA from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, MBIA presently has an average rating of “Hold” and an average price target of $8.50.

MBIA Price Performance

Shares of NYSE:MBI traded up $0.03 on Wednesday, reaching $7.67. 33,287 shares of the company traded hands, compared to its average volume of 348,431. The stock has a market capitalization of $387.29 million, a PE ratio of -1.65 and a beta of 1.82. The company’s 50 day moving average is $7.22 and its 200-day moving average is $5.97. MBIA has a fifty-two week low of $3.86 and a fifty-two week high of $8.26.

MBIA (NYSE:MBI) last issued its earnings results on Tuesday, November 4th. The insurance provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.12). The company had revenue of $13.00 million during the quarter, compared to analyst estimates of $21.00 million. As a group, analysts expect that MBIA will post -3.5 EPS for the current year.

Institutional Trading of MBIA

A number of institutional investors and hedge funds have recently made changes to their positions in MBI. Valueworks LLC boosted its stake in shares of MBIA by 1.0% during the 1st quarter. Valueworks LLC now owns 2,205,805 shares of the insurance provider’s stock worth $10,985,000 after acquiring an additional 22,910 shares in the last quarter. Geode Capital Management LLC lifted its holdings in MBIA by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,043,095 shares of the insurance provider’s stock worth $4,528,000 after purchasing an additional 14,336 shares during the last quarter. Kahn Brothers Group Inc. acquired a new stake in MBIA in the 3rd quarter worth approximately $7,672,000. UBS Group AG boosted its position in MBIA by 72.9% during the third quarter. UBS Group AG now owns 1,026,406 shares of the insurance provider’s stock worth $7,647,000 after purchasing an additional 432,906 shares during the period. Finally, TCW Group Inc. grew its holdings in MBIA by 12.7% during the first quarter. TCW Group Inc. now owns 796,560 shares of the insurance provider’s stock valued at $3,967,000 after purchasing an additional 90,000 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

MBIA Company Profile

MBIA Inc provides financial guarantee insurance services to public finance markets in the United States. It operates United States (U.S.) Public Finance Insurance, and International and Structured Finance Insurance segments. The company issues financial guarantees for municipal bonds, including tax-exempt and taxable indebtedness of the U.S.