loanDepot (NYSE:LDI) Announces Quarterly Earnings Results

loanDepot (NYSE:LDI – Get Rating) announced its quarterly earnings data on Tuesday. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.30), MarketWatch Earnings reports. loanDepot had a return on equity of 33.38% and a net margin of 3.05%. During the same quarter in the previous year, the business earned $0.98 earnings per share.

loanDepot stock traded down $0.28 during midday trading on Wednesday, hitting $2.10. The stock had a trading volume of 38,940 shares, compared to its average volume of 934,191. loanDepot has a 52-week low of $2.00 and a 52-week high of $16.95. The company has a market capitalization of $652.95 million, a PE ratio of 2.65 and a beta of 1.21. The firm’s fifty day moving average is $3.64 and its two-hundred day moving average is $4.60. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.22.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 4th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, April 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 15.24%. loanDepot’s payout ratio is currently 36.36%.

In other news, EVP Jeff Alexander Walsh sold 75,000 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $2.82, for a total transaction of $211,500.00. Following the sale, the executive vice president now directly owns 6,772,543 shares in the company, valued at approximately $19,098,571.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 225,000 shares of company stock worth $796,500.

A number of institutional investors and hedge funds have recently modified their holdings of LDI. Raymond James Financial Services Advisors Inc. bought a new position in loanDepot in the 1st quarter worth approximately $47,000. Goldman Sachs Group Inc. increased its holdings in loanDepot by 18.1% in the 3rd quarter. Goldman Sachs Group Inc. now owns 14,981 shares of the company’s stock valued at $101,000 after acquiring an additional 2,296 shares during the last quarter. Barclays PLC boosted its holdings in shares of loanDepot by 38.8% during the 4th quarter. Barclays PLC now owns 17,607 shares of the company’s stock valued at $85,000 after purchasing an additional 4,922 shares during the last quarter. Northern Trust Corp grew its position in shares of loanDepot by 51.0% during the fourth quarter. Northern Trust Corp now owns 28,137 shares of the company’s stock valued at $135,000 after purchasing an additional 9,506 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of loanDepot in the fourth quarter worth about $143,000. 4.12% of the stock is currently owned by institutional investors.

Several research analysts have recently weighed in on LDI shares. Raymond James cut loanDepot from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 2nd. The Goldman Sachs Group lowered their target price on shares of loanDepot from $4.80 to $3.90 and set a “neutral” rating on the stock in a research note on Monday, April 4th. Citigroup cut shares of loanDepot from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $5.00 to $2.00 in a report on Wednesday. JMP Securities cut shares of loanDepot from an “outperform” rating to a “market perform” rating in a report on Wednesday. Finally, Piper Sandler lowered shares of loanDepot from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $6.00 to $3.50 in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.79.

About loanDepot (Get Rating)

loanDepot, Inc engages in originating, financing, selling, and servicing residential mortgage loans in the United States. It offers conventional agency-conforming and prime jumbo, federal assistance residential mortgage, and home equity loans. The company also provides settlement services, which include captive title and escrow business; real estate services that cover captive real estate referral business; and insurance services, including services to homeowners, as well as other consumer insurance policies.

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