PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Average Rating of “Moderate Buy” from Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $97.75.

PFSI has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday. Barclays raised their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods lowered their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday.

Insiders Place Their Bets

In other news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the sale, the insider now owns 7,257 shares in the company, valued at $625,843.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the sale, the insider now directly owns 7,257 shares of the company’s stock, valued at $625,843.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Derek Stark sold 5,255 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $89.44, for a total value of $470,007.20. Following the completion of the transaction, the insider now directly owns 27,084 shares of the company’s stock, valued at $2,422,392.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,802 shares of company stock worth $7,666,108. Company insiders own 17.40% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of PennyMac Financial Services by 283.2% in the third quarter. SG Americas Securities LLC now owns 10,415 shares of the real estate investment trust’s stock valued at $694,000 after purchasing an additional 7,697 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter valued at about $57,000. Dakota Wealth Management purchased a new stake in shares of PennyMac Financial Services in the third quarter valued at about $1,313,000. Bank of New York Mellon Corp increased its position in PennyMac Financial Services by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 234,486 shares of the real estate investment trust’s stock worth $15,617,000 after purchasing an additional 7,251 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PennyMac Financial Services by 13.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,076 shares of the real estate investment trust’s stock valued at $538,000 after purchasing an additional 944 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PFSI stock opened at $87.01 on Friday. PennyMac Financial Services has a fifty-two week low of $56.16 and a fifty-two week high of $94.78. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 0.61 and a beta of 1.67. The stock’s 50-day simple moving average is $87.83 and its 200-day simple moving average is $83.05.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. The business had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.51%. As a group, equities analysts forecast that PennyMac Financial Services will post 10.41 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.92%. PennyMac Financial Services’s dividend payout ratio is currently 27.78%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.