Compass Point

Compass Point reduced its rating on Wells Fargo (NYSE: WFC) from Buy to Neutral and lowered its price target from $41 to $37. Compass Point said, "We are downgrading Wells Fargo (WFC) from Buy to Neutral and decreasing our price target to $37 from $41 following the 3Q12 earnings announcement. It...

Compass Point initiated coverage on SLM Corporation (NASDAQ: SLM) with a Buy rating and a $21 price target. Compass Point noted, "We contend that SLM remains an attractive and unique story among financials, exhibiting improving credit, meaningful loan origination growth, consistent capital...

Compass Point initiated coverage on PHH Corporation (NYSE: PHH) with a Neutral rating and $24 price target. Compass Point noted, "Our Neutral rating is based on our belief there is material downside risk to shares if mortgage repurchase claims exceed management's expectations for an additional $...

Compass Point reduced its rating on Regions Financial (NYSE: RF) from Buy to Neutral, but raised its price target from $7 to $7.25 as the former was reached. Compass Point commented, "RF's capital levels will continue to benefit from reserve releases, and CD repricings will provide a tailwind to...

Compass Point reduced its rating on SunTrust Banks (NYSE: STI) from Buy to Neutral, but raised its price target from $29 to $30. Compass Point noted, "STI has outperformed on the heels of its announced capital actions (Sep-6) and has been bolstered by the larger than expected QE3 announcement....

Compass Point reduced its rating on First Horizon National (NASDAQ: LUFK) from Neutral to Sell, but raised its price target from $8 to $9. Compass Point commented, "While upside to our earnings assumptions is possible, at the current price, we believe investors are nearly pricing out the...

Compass Point raised its rating on PulteGroup (NYSE: PHM) from Neutral to Buy and raised its price target from $9 to $19. Compass Point noted, "Given that PHM is the only publicly traded home builder with material mortgage repurchase exposure, we apply a sectorhigh 7% ROI, or 14x P/E, to 2013...

Compass Point raised its rating on Ryland Group (NYSE: RYL) from Neutral to Buy with a $38 price target. Compass Point said, "We see no tangible reason why RYL should trade at a lower valuation than its peers. The company's liquidity position (illustrated below) is one of the best in the sector...

Compass Point lowered its rating on eBay (NASDAQ: EBAY) from Buy to Neutral with a reiterated $46 price target. Compass Point commented, "In February we initiated on eBay at Buy with the share price at $35.14. Yesterday the shares closed at $50.48 or essentially at the 52 week high. Yesterday's...

Compass Point initiated NewBridge Bancorp (NASDAQ: NBBC) with a Buy rating and a price target of $5 a share. Compass Point noted, "Similar to most of its community banking peers, NBBC has incurred a significant amount of credit related expenses (over $150M in charge offs) since the beginning of...

Compass Point cut its rating on Home Properties (NYSE: HME) from Buy to Neutral but raised its price target from $68.50 to $71. Compass Point commented, "We continue to favor HME's portfolio of B assets in A markets, but the outperformance of the stock relative to peers in 2012 combined with the...

Compass Point maintained a Buy rating on Agree Realty Corporation (NYSE: ADC) and a $28 price target. Compass Point wrote, “The company reported a strong 2Q12 that was slightly better than our estimates, a quarter that included the previously announced reduction of Kmart exposure as well as $22...

Compass Point raised its rating on First Horizon National Corporation (NYSE: FHN) from Sell to Neutral as it believes the worst-case scenario no longer applies to the company. Compass Point said, "We are upgrading shares of FHN from Sell to Neutral. We continue to expect that revenue growth will...

Compass Point initiated coverage on Western Asset Mortgage Capital (NYSE: WMC) with a Buy rating and a price target of $21. Compass Point noted, "We remain generally positive on levered mortgage investing based on a few key macro premises. In the Agency mREIT space, WMC is somewhat unique as it...

Compass Point reduced its rating on American Capital Mortgage (NASDAQ: MTGE) from Buy to Neutral on a more balanced outlook, but raised its price target from $20 to $23. Compass Point said, "While MTGE's current valuation is not approaching secular peak valuations reached by other mREITs in prior...