PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Rating of “Hold” by Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned an average rating of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $122.75.

PFSI has been the subject of several recent analyst reports. Zacks Research lowered PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Weiss Ratings lowered shares of PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Stephens initiated coverage on shares of PennyMac Financial Services in a report on Friday, April 24th. They issued an “equal weight” rating and a $100.00 price target on the stock. Finally, BTIG Research reissued a “buy” rating on shares of PennyMac Financial Services in a report on Friday, January 30th.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $87.76 on Friday. The firm has a market capitalization of $4.56 billion, a P/E ratio of 9.33, a P/E/G ratio of 0.57 and a beta of 1.49. The company has a quick ratio of 0.34, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. The stock’s 50-day simple moving average is $88.84 and its two-hundred day simple moving average is $111.92. PennyMac Financial Services has a twelve month low of $82.65 and a twelve month high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.03). PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The business had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. During the same period in the previous year, the firm posted $1.42 EPS. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. As a group, equities analysts anticipate that PennyMac Financial Services will post 10.68 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 18th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, May 18th. PennyMac Financial Services’s dividend payout ratio is presently 12.75%.

Insider Transactions at PennyMac Financial Services

In other news, insider Derek Stark sold 1,903 shares of the company’s stock in a transaction dated 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 represents a 7.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Spector sold 12,436 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $86.39, for a total value of $1,074,346.04. Following the completion of the transaction, the chief executive officer owned 529,401 shares of the company’s stock, valued at $45,734,952.39. The trade was a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 61,280 shares of company stock worth $5,510,753. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors have recently made changes to their positions in PFSI. AQR Capital Management LLC boosted its stake in shares of PennyMac Financial Services by 3.8% in the 1st quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock valued at $2,404,000 after purchasing an additional 875 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of PennyMac Financial Services by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock valued at $1,594,000 after purchasing an additional 706 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of PennyMac Financial Services by 5.8% in the 1st quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust’s stock valued at $1,540,000 after purchasing an additional 840 shares in the last quarter. Strs Ohio purchased a new stake in shares of PennyMac Financial Services in the 1st quarter valued at $30,000. Finally, Prudential Financial Inc. boosted its holdings in PennyMac Financial Services by 82.8% during the 2nd quarter. Prudential Financial Inc. now owns 4,084 shares of the real estate investment trust’s stock valued at $413,000 after acquiring an additional 1,850 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Company Profile

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.