PennyMac Financial Services (NYSE:PFSI) Hits New 52-Week High at $118.76

PennyMac Financial Services, Inc. (NYSE:PFSI)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $118.76 and last traded at $117.48, with a volume of 151325 shares changing hands. The stock had previously closed at $116.56.

Analysts Set New Price Targets

A number of brokerages recently commented on PFSI. Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a report on Monday, July 22nd. Piper Sandler lifted their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Finally, Wedbush lifted their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $107.17.

PennyMac Financial Services Trading Down 0.3 %

The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 40.36, a P/E/G ratio of 0.72 and a beta of 1.77. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50-day moving average of $101.80 and a 200-day moving average of $94.23.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The business had revenue of $406.13 million for the quarter, compared to the consensus estimate of $469.64 million. During the same quarter in the prior year, the firm posted $1.11 earnings per share. The business’s revenue was up 20.7% compared to the same quarter last year. Research analysts anticipate that PennyMac Financial Services, Inc. will post 10.61 EPS for the current year.

PennyMac Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Tuesday, August 13th. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio (DPR) is 41.67%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total value of $920,600.00. Following the transaction, the chief executive officer now directly owns 220,604 shares of the company’s stock, valued at approximately $20,308,804.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the sale, the chief executive officer now owns 220,604 shares of the company’s stock, valued at approximately $20,308,804.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anne Mccallion sold 23,829 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the transaction, the director now directly owns 1,854 shares of the company’s stock, valued at approximately $191,221.56. The disclosure for this sale can be found here. Insiders sold 55,225 shares of company stock valued at $5,487,319 in the last three months. Corporate insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in shares of PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 413 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 109 shares during the last quarter. TFO Wealth Partners LLC increased its stake in shares of PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,141 shares during the period. SG Americas Securities LLC bought a new position in PennyMac Financial Services in the 1st quarter valued at approximately $202,000. Finally, Cannon Global Investment Management LLC acquired a new stake in PennyMac Financial Services during the 2nd quarter worth approximately $255,000. 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.