PennyMac Financial Services (NYSE:PFSI) Raised to Hold at StockNews.com

StockNews.com upgraded shares of PennyMac Financial Services (NYSE:PFSI) from a sell rating to a hold rating in a research report released on Friday morning.

Several other research firms have also issued reports on PFSI. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a buy rating for the company in a report on Thursday, April 25th. Wedbush reissued an outperform rating and set a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an outperform rating for the company in a research report on Friday, April 26th. Finally, Barclays raised their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $97.75.

PennyMac Financial Services Stock Up 3.3 %

Shares of NYSE:PFSI opened at $90.84 on Friday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.37 and a current ratio of 0.39. PennyMac Financial Services has a 52-week low of $56.16 and a 52-week high of $94.78. The firm has a market capitalization of $4.58 billion, a P/E ratio of 31.54, a P/E/G ratio of 0.59 and a beta of 1.68. The stock has a 50 day moving average price of $87.86 and a 200-day moving average price of $83.99.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The firm had revenue of $305.66 million for the quarter, compared to analysts’ expectations of $422.87 million. As a group, equities research analysts anticipate that PennyMac Financial Services will post 10.55 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, May 13th. PennyMac Financial Services’s payout ratio is 27.78%.

Insider Activity

In related news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total transaction of $225,690.08. Following the transaction, the insider now owns 7,257 shares in the company, valued at approximately $625,843.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Doug Jones sold 17,079 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $86.10, for a total value of $1,470,501.90. Following the sale, the director now directly owns 23,892 shares in the company, valued at approximately $2,057,101.20. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $225,690.08. Following the completion of the sale, the insider now owns 7,257 shares in the company, valued at $625,843.68. The disclosure for this sale can be found here. Insiders sold a total of 87,802 shares of company stock valued at $7,666,108 in the last 90 days. Company insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

A number of large investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC increased its holdings in shares of 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 buying an additional 205 shares during the last quarter. Caxton Associates LP grew its holdings in PennyMac Financial Services by 3.6% during the 3rd quarter. Caxton Associates LP now owns 5,874 shares of the real estate investment trust’s stock valued at $391,000 after purchasing an additional 206 shares during the last quarter. MorganRosel Wealth Management LLC grew its holdings in PennyMac Financial Services by 2.2% during the 1st quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock valued at $985,000 after purchasing an additional 236 shares during the last quarter. USA Financial Formulas bought a new position in PennyMac Financial Services during the 4th quarter valued at about $25,000. Finally, Teacher Retirement System of Texas grew its holdings in PennyMac Financial Services by 4.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 9,774 shares of the real estate investment trust’s stock valued at $651,000 after purchasing an additional 385 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors.

About PennyMac Financial Services

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.