SVB Wealth LLC Has $3.17 Million Stock Position in Ready Capital Co. (NYSE:RC)

SVB Wealth LLC reduced its position in Ready Capital Co. (NYSE:RC) by 28.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 309,691 shares of the real estate investment trust’s stock after selling 125,666 shares during the period. SVB Wealth LLC owned about 0.18% of Ready Capital worth $3,174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Ready Capital by 21.2% in the 1st quarter. JPMorgan Chase & Co. now owns 811,765 shares of the real estate investment trust’s stock valued at $12,225,000 after buying an additional 141,736 shares in the last quarter. Raymond James & Associates increased its holdings in Ready Capital by 128.5% in the first quarter. Raymond James & Associates now owns 52,765 shares of the real estate investment trust’s stock worth $795,000 after buying an additional 29,678 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Ready Capital by 86.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 57,701 shares of the real estate investment trust’s stock worth $869,000 after buying an additional 26,781 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Ready Capital by 12.0% in the first quarter. Bank of New York Mellon Corp now owns 607,299 shares of the real estate investment trust’s stock worth $9,145,000 after buying an additional 65,079 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Ready Capital in the first quarter worth approximately $966,000. 55.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on RC. StockNews.com downgraded Ready Capital from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price objective (down previously from $10.00) on shares of Ready Capital in a report on Monday, March 4th. B. Riley restated a “buy” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Ready Capital in a report on Monday, March 4th. BTIG Research dropped their price objective on Ready Capital from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, UBS Group dropped their price target on shares of Ready Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Ready Capital currently has an average rating of “Hold” and an average target price of $10.93.

Ready Capital Stock Up 1.7 %

Ready Capital stock opened at $8.47 on Thursday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 3.62 and a beta of 1.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.89 and a quick ratio of 1.89. Ready Capital Co. has a fifty-two week low of $8.25 and a fifty-two week high of $11.97. The firm has a fifty day moving average price of $8.85 and a two-hundred day moving average price of $9.63.

Ready Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 14.17%. The ex-dividend date of this dividend is Wednesday, March 27th. Ready Capital’s dividend payout ratio is 51.28%.

Insiders Place Their Bets

In other news, Director Gilbert E. Nathan bought 10,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $8.65 per share, with a total value of $86,500.00. Following the transaction, the director now directly owns 83,099 shares in the company, valued at $718,806.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Gilbert E. Nathan acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $8.65 per share, with a total value of $86,500.00. Following the completion of the transaction, the director now owns 83,099 shares of the company’s stock, valued at $718,806.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin M. Luebbers acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were bought at an average cost of $8.43 per share, with a total value of $42,150.00. Following the transaction, the director now directly owns 119,925 shares of the company’s stock, valued at approximately $1,010,967.75. The disclosure for this purchase can be found here. Insiders bought a total of 17,150 shares of company stock valued at $148,280 in the last quarter. Insiders own 0.95% of the company’s stock.

Ready Capital Company Profile

Ready Capital Corporation operates as a real estate finance company in the United States. It operates through two segments: LMM Commercial Real Estate and Small Business Lending. The company originates, acquires, finances, and services lower-to-middle-market (LLM) commercial real estate loans, small business administration (SBA) loans, residential mortgage loans, construction loans, and mortgage-backed securities collateralized primarily by LLM loans, or other real estate-related investments.