Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for MBIA (NYSE:MBI) Stock

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

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

MBIA Stock Performance

Shares of NYSE:MBI traded up $0.03 during trading on Wednesday, hitting $7.67. 33,287 shares of the stock were exchanged, compared to its average volume of 348,431. The company has a market capitalization of $387.29 million, a price-to-earnings ratio of -1.65 and a beta of 1.82. MBIA has a 1-year low of $3.86 and a 1-year high of $8.26. The company’s fifty day simple moving average is $7.22 and its 200-day simple moving average is $5.97.

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

Institutional Trading of MBIA

A number of institutional investors have recently bought and sold shares of MBI. TCW Group Inc. grew its stake in shares of MBIA by 12.7% during the first quarter. TCW Group Inc. now owns 796,560 shares of the insurance provider’s stock worth $3,967,000 after purchasing an additional 90,000 shares during the period. XTX Topco Ltd boosted its holdings in MBIA by 25.5% during the first quarter. XTX Topco Ltd now owns 29,528 shares of the insurance provider’s stock worth $147,000 after buying an additional 6,001 shares during the last quarter. Nuveen LLC acquired a new position in shares of MBIA during the 1st quarter worth about $731,000. Freestone Capital Holdings LLC increased its stake in shares of MBIA by 60.6% in the 1st quarter. Freestone Capital Holdings LLC now owns 288,129 shares of the insurance provider’s stock valued at $1,435,000 after acquiring an additional 108,776 shares during the last quarter. Finally, Valueworks LLC increased its stake in shares of MBIA by 1.0% in the 1st quarter. Valueworks LLC now owns 2,205,805 shares of the insurance provider’s stock valued at $10,985,000 after acquiring an additional 22,910 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.