PennyMac Financial Services (PFSI) – Research Analysts’ Weekly Ratings Updates

PennyMac Financial Services (NYSE: PFSI) recently received a number of ratings updates from brokerages and research firms:

• 5/3/2024 – PennyMac Financial Services was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/26/2024 – PennyMac Financial Services had its price target lowered by analysts at Keefe, Bruyette & Woods from $105.00 to $100.00. They now have an “outperform” rating on the stock.
• 4/25/2024 – PennyMac Financial Services was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 4/25/2024 – PennyMac Financial Services had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $110.00 price target on the stock.
• 4/25/2024 – PennyMac Financial Services had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $112.00. They now have a “buy” rating on the stock.
• 4/11/2024 – PennyMac Financial Services was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 4/9/2024 – PennyMac Financial Services had its price target raised by analysts at Barclays PLC from $103.00 to $112.00. They now have an “overweight” rating on the stock.
• 4/9/2024 – PennyMac Financial Services was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating. They now have a $105.00 price target on the stock, up previously from $100.00.
• 4/3/2024 – PennyMac Financial Services was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 3/13/2024 – PennyMac Financial Services was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.

PennyMac Financial Services Trading Down 0.4 %

Shares of PFSI traded down $0.34 during trading on Wednesday, reaching $91.76. 128,263 shares of the company traded hands, compared to its average volume of 243,758. The stock has a market cap of $4.63 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 0.59 and a beta of 1.68. PennyMac Financial Services, Inc. has a twelve month low of $56.46 and a twelve month high of $94.78. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. The stock has a 50-day simple moving average of $88.14 and a 200-day simple moving average of $84.40.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data 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. The business had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. On average, analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company 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 annualized dividend and a dividend yield of 0.87%. PennyMac Financial Services’s payout ratio is 27.78%.

Insider Activity

In related news, CEO David Spector sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $87.18, for a total value of $1,307,700.00. Following the completion of the sale, the chief executive officer now owns 270,604 shares of the company’s stock, valued at $23,591,256.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Joseph F. Mazzella sold 16,465 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the sale, the director now directly owns 116,546 shares in the company, valued at approximately $10,574,218.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Spector sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the transaction, the chief executive officer now directly owns 270,604 shares in the company, valued at $23,591,256.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,267 shares of company stock valued at $9,159,977. Insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in PennyMac Financial Services by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock valued at $237,851,000 after purchasing an additional 70,178 shares in the last quarter. Vanguard Group Inc. increased its stake in PennyMac Financial Services by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,610,041 shares of the real estate investment trust’s stock worth $230,649,000 after buying an additional 19,748 shares in the last quarter. Invesco Ltd. lifted its position in PennyMac Financial Services by 47.6% during the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock worth $32,654,000 after buying an additional 158,181 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PennyMac Financial Services by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust’s stock valued at $35,060,000 after acquiring an additional 3,947 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at $31,258,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.