PennyMac Financial Services (NYSE:PFSI) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

PennyMac Financial Services (NYSE:PFSI) had its target price boosted by equities researchers at Keefe, Bruyette & Woods from $138.00 to $143.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 9.88% from the stock’s current price.

PFSI has been the topic of a number of other reports. Barclays raised their price objective on PennyMac Financial Services from $136.00 to $139.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. BTIG Research restated a “buy” rating and set a $135.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 22nd. Piper Sandler raised their price target on PennyMac Financial Services from $136.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of PennyMac Financial Services in a research report on Friday, October 31st. Finally, Wells Fargo & Company increased their price objective on PennyMac Financial Services from $115.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.50.

PennyMac Financial Services Trading Down 0.2%

Shares of PFSI opened at $130.14 on Thursday. PennyMac Financial Services has a fifty-two week low of $85.74 and a fifty-two week high of $136.62. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 14.02 and a beta of 1.58. The firm has a 50 day moving average price of $127.29 and a 200-day moving average price of $113.65. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, beating the consensus estimate of $2.98 by $0.39. The company had revenue of $632.90 million for the quarter, compared to analyst estimates of $573.46 million. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The firm’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 EPS. As a group, equities research analysts forecast that PennyMac Financial Services will post 13.77 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Anne Mccallion sold 27,771 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $131.55, for a total transaction of $3,653,275.05. Following the transaction, the director directly owned 1,547 shares of the company’s stock, valued at approximately $203,507.85. The trade was a 94.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doug Jones sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $132.63, for a total value of $2,652,600.00. Following the transaction, the director owned 430,000 shares of the company’s stock, valued at approximately $57,030,900. This represents a 4.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 209,599 shares of company stock valued at $27,050,778 in the last 90 days. 15.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

A number of large investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP bought a new position in PennyMac Financial Services in the third quarter worth about $5,593,000. Goldentree Asset Management LP grew its holdings in shares of PennyMac Financial Services by 0.8% during the 3rd quarter. Goldentree Asset Management LP now owns 296,441 shares of the real estate investment trust’s stock worth $36,649,000 after acquiring an additional 2,242 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $78,000. CIBC Bancorp USA Inc. bought a new position in shares of PennyMac Financial Services in the 3rd quarter worth approximately $386,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of PennyMac Financial Services by 1.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock valued at $2,026,000 after purchasing an additional 163 shares during the period. Institutional investors own 57.87% of the company’s stock.

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.