PennyMac Financial Services (NYSE:PFSI) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of PennyMac Financial Services (NYSE:PFSI) from a hold rating to a sell rating in a report published on Wednesday morning.

Other equities analysts have also recently issued research reports about the stock. Wedbush reissued an outperform rating and set a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an outperform rating on the stock in a research report on Friday, April 26th. Finally, Barclays raised their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $97.75.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $93.93 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. The business has a 50-day moving average price of $91.30 and a two-hundred day moving average price of $89.03. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $95.18. The company has a market cap of $4.78 billion, a P/E ratio of 32.61, a PEG ratio of 0.61 and a beta of 1.72.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. The firm 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%. As a group, analysts anticipate that PennyMac Financial Services will post 10.55 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.85%. PennyMac Financial Services’s payout ratio is currently 27.78%.

Insider Transactions at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total value of $1,048,800.00. Following the completion of the transaction, the chief financial officer now directly owns 246,497 shares in the company, valued at approximately $22,677,724. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $90.72, for a total value of $907,200.00. Following the completion of the transaction, the chief executive officer now directly owns 250,604 shares in the company, valued at approximately $22,734,794.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total transaction of $1,048,800.00. Following the completion of the transaction, the chief financial officer now owns 246,497 shares of the company’s stock, valued at $22,677,724. The disclosure for this sale can be found here. Insiders sold a total of 87,865 shares of company stock worth $8,031,769 in the last quarter. Insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PFSI. Qube Research & Technologies Ltd bought a new position in PennyMac Financial Services in the 3rd quarter valued at $3,370,000. Adage Capital Partners GP L.L.C. bought a new position in PennyMac Financial Services in the 3rd quarter valued at $3,657,000. Jacobs Levy Equity Management Inc. bought a new position in PennyMac Financial Services in the 3rd quarter valued at $17,242,000. Graham Capital Management L.P. bought a new position in PennyMac Financial Services in the 3rd quarter valued at $1,237,000. Finally, American Century Companies Inc. boosted its holdings in PennyMac Financial Services by 6.2% in the 3rd quarter. American Century Companies Inc. now owns 277,643 shares of the real estate investment trust’s stock valued at $18,491,000 after purchasing an additional 16,174 shares during the period. 57.87% of the stock is owned by institutional investors.

About PennyMac Financial Services

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.