Thrifts & Mortgage Stocks: Mixed Q4 Results, Caution Ahead
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
Audio is streamed directly from the publisher (api.fastcast.ai) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Earnings season for thrifts and mortgage finance stocks wrapped up with a mixed bag in the fourth quarter. Despite beating estimates by 1.8% overall, next quarters guidance came in 3.9% below expectations, signaling caution ahead. Standout Arbor Realty Trust posted $133.4M in revenue, down 12.1% year over year but crushing estimates by 10.3% on both top and bottom lines. Stocks took a hit, dropping an average of 10.7% since reports dropped. Ladder Capital had the roughest ride, revenues crashing 26.4% and missing estimates by 9.2%, sending shares down 11.8%. PennyMac Mortgage Investment Trust also lagged, with shares tumbling 14.3%. Northwest Bancshares grew 14.4% and met forecasts with shares flat. While the group cools off amid housing jitters, keep eyes on rate moves and buyer demand to see if these lenders rebound or keep sliding.
Support the show:
Get a discount at https://solipillow.com/discount/dnn.
Advertise on DNN:
[email protected]
This is an automated, high-level news summary based on public reporting.
Report issues to [email protected].
View sources & latest updates:
https://sources.thednn.ai/528776cd4c2ffec6