Mortgage REIT PennyMac Mortgage Investment Trust (NYSE: PMT) will be reporting earnings this Thursday afternoon. Here’s what to look for.

PennyMac Mortgage Investment Trust beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $99.23 million, up 22.7% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ net interest income estimates.

Is PennyMac Mortgage Investment Trust a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting PennyMac Mortgage Investment Trust’s revenue to decline 7.5% year on year to $99.85 million, a reversal from the 27.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.39 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. PennyMac Mortgage Investment Trust has missed Wall Street’s revenue estimates six times over the last two years.

Looking at PennyMac Mortgage Investment Trust’s peers in the banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Northwest Bancshares delivered year-on-year revenue growth of 15.4%, meeting analysts’ expectations, and WaFd Bank reported revenues up 7.6%, falling short of estimates by 2.6%. Northwest Bancshares’s stock price was unchanged after the resultswhile WaFd Bank was down 4%.

Read our full analysis of Northwest Bancshares’s results here and WaFd Bank’s results here.

There has been positive sentiment among investors in the banks segment, with share prices up 3.4% on average over the last month. PennyMac Mortgage Investment Trust is up 5.9% during the same time and is heading into earnings with an average analyst price target of $13.50 (compared to the current share price of $13.38).

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