PennyMac Financial Services (NYSE:PFSI) Stock Gets Price Target Reduction from BTIG Research

PennyMac Financial Services (NYSE:PFSI) had its target price trimmed by BTIG Research from $90.00 to $80.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on PFSI. Wall Street Zen lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Stephens decreased their price target on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Wells Fargo & Company decreased their price target on PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Piper Sandler lowered their price target on PennyMac Financial Services from $86.00 to $71.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, PennyMac Financial Services has an average rating of “Hold” and a consensus target price of $100.00.

PennyMac Financial Services Stock Down 2.5%

Shares of NYSE:PFSI opened at $57.82 on Monday. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 0.58 and a beta of 1.45. PennyMac Financial Services has a 12 month low of $57.52 and a 12 month high of $160.36. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company has a 50-day moving average price of $69.46 and a 200 day moving average price of $79.86.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%. The company had revenue of $496.96 million for the quarter, compared to the consensus estimate of $571.60 million. During the same period in the previous year, the firm earned $2.54 earnings per share. The company’s revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts predict that PennyMac Financial Services will post 7.09 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, August 17th. PennyMac Financial Services’s dividend payout ratio is 16.48%.

Institutional Trading of PennyMac Financial Services

Several institutional investors have recently added to or reduced their stakes in PFSI. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of PennyMac Financial Services in the second quarter worth approximately $25,000. GAMMA Investing LLC lifted its stake in shares of PennyMac Financial Services by 313.2% during the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 332 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 acquiring an additional 228 shares during the last quarter. Silvant Capital Management LLC bought a new stake in shares of PennyMac Financial Services during the 2nd quarter worth approximately $34,000. Finally, Freestone Grove Partners LP bought a new stake in shares of PennyMac Financial Services during the 2nd quarter worth approximately $41,000. Institutional investors own 57.87% of the company’s stock.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE:PFSI) is a financial services company focused on the U.S. residential mortgage market. Through its operating subsidiaries, the company originates, acquires, services and manages investments in residential mortgage loans and related assets.

PennyMac’s business includes mortgage loan production through correspondent and consumer-direct channels, mortgage servicing and loan administration, and investment management activities. Its services support homeowners, mortgage originators and institutional investors across the residential lending lifecycle, including loan fulfillment, servicing and asset management.

The company was established in 2008 and serves customers and business partners throughout the United States.