PennyMac Financial Services (NYSE:PFSI) Stock Rating Upgraded by Wall Street Zen

PennyMac Financial Services (NYSE:PFSI) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities research analysts have also recently weighed in on the company. Barclays dropped their price objective on PennyMac Financial Services from $136.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a research note on Friday. Piper Sandler decreased their target price on PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday. BTIG Research reiterated a “buy” rating on shares of PennyMac Financial Services in a report on Friday, January 30th. Finally, Stephens assumed coverage on PennyMac Financial Services in a report on Friday, April 24th. They issued an “equal weight” rating and a $100.00 target price for the company. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.88.

PennyMac Financial Services Trading Up 0.1%

Shares of NYSE PFSI opened at $90.62 on Friday. PennyMac Financial Services has a twelve month low of $82.65 and a twelve month high of $160.36. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.32. The stock has a fifty day simple moving average of $89.13 and a 200-day simple moving average of $113.26. The stock has a market capitalization of $4.73 billion, a PE ratio of 9.63, a PEG ratio of 0.59 and a beta of 1.49.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). PennyMac Financial Services had a net margin of 23.47% and a return on equity of 11.02%. The firm had revenue of $544.98 million during the quarter, compared to analyst estimates of $546.17 million. During the same period in the previous year, the firm posted $1.42 earnings per share. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, equities analysts forecast that PennyMac Financial Services will post 10.68 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Derek Stark sold 1,903 shares of PennyMac Financial Services stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $91.50, for a total value of $174,124.50. Following the completion of the transaction, the insider directly owned 22,477 shares in the company, valued at approximately $2,056,645.50. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patrick Kinsella purchased 2,250 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were acquired at an average cost of $89.15 per share, with a total value of $200,587.50. Following the completion of the acquisition, the director directly owned 34,210 shares in the company, valued at $3,049,821.50. The trade was a 7.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 51,280 shares of company stock valued at $4,630,853. 15.80% of the stock is currently owned by company insiders.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC purchased a new stake in PennyMac Financial Services during the 2nd quarter worth about $26,000. Caitong International Asset Management Co. Ltd lifted its holdings in PennyMac Financial Services by 7,600.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 228 shares during the last quarter. Strs Ohio purchased a new stake in PennyMac Financial Services during the 1st quarter worth about $30,000. Los Angeles Capital Management LLC purchased a new stake in PennyMac Financial Services during the 4th quarter worth about $31,000. Finally, GAMMA Investing LLC lifted its holdings in PennyMac Financial Services by 97.3% during the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 142 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.