PennyMac Financial Services (NYSE:PFSI) Downgraded by StockNews.com

StockNews.com cut shares of PennyMac Financial Services (NYSE:PFSI) from a hold rating to a sell rating in a research note released on Thursday.

Several other analysts have also issued reports on PFSI. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a market perform rating to an outperform rating and boosted their target price for the company from $100.00 to $105.00 in a research note on Tuesday, April 9th. Barclays boosted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Wedbush restated an outperform rating and issued a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on PennyMac Financial Services from $115.00 to $112.00 and set a buy rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $97.75.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $87.00 on Thursday. The business’s fifty day simple moving average is $87.83 and its 200 day simple moving average is $83.15. The firm has a market capitalization of $4.39 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67. PennyMac Financial Services has a 12 month low of $56.16 and a 12 month high of $94.78. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, topping 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 return on equity of 10.51% and a net margin of 10.94%. As a group, analysts anticipate that PennyMac Financial Services will post 10.58 EPS for the current year.

PennyMac Financial Services Announces Dividend

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

Insider Activity at PennyMac Financial Services

In related news, CEO David Spector sold 26,451 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the completion of the transaction, the chief executive officer now directly owns 647,938 shares in the company, valued at $55,755,064.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO David Spector sold 26,451 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the completion of the transaction, the chief executive officer now directly owns 647,938 shares in the company, valued at $55,755,064.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider James Follette sold 2,617 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now owns 7,257 shares of the company’s stock, valued at $625,843.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,802 shares of company stock worth $7,666,108. 17.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently modified their holdings of the company. USA Financial Formulas purchased a new position in shares of PennyMac Financial Services in the 4th quarter worth $25,000. Hexagon Capital Partners LLC raised its holdings in PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares during the period. Parkside Financial Bank & Trust bought a new position in PennyMac Financial Services in the 4th quarter worth $36,000. Exchange Traded Concepts LLC bought a new position in PennyMac Financial Services in the 3rd quarter worth $57,000. Finally, TFO Wealth Partners LLC raised its holdings in PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.