PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $115.86.

PFSI has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research report on Monday, July 22nd. Piper Sandler boosted their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays raised their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Wedbush reiterated an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd.

Insider Buying and Selling

In other news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00. Following the completion of the sale, the chief executive officer now owns 190,604 shares in the company, valued at $20,503,272.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the transaction, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $107.57, for a total value of $1,075,700.00. Following the completion of the sale, the chief executive officer now directly owns 190,604 shares of the company’s stock, valued at $20,503,272.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,855 shares of company stock valued at $9,647,599 over the last quarter. 16.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its position in shares of PennyMac Financial Services by 56.1% during the 1st quarter. BNP Paribas Financial Markets now owns 13,917 shares of the real estate investment trust’s stock worth $1,268,000 after purchasing an additional 5,004 shares in the last quarter. Quantbot Technologies LP purchased a new stake in PennyMac Financial Services during the first quarter worth about $2,570,000. SG Americas Securities LLC acquired a new position in PennyMac Financial Services during the first quarter worth about $202,000. QRG Capital Management Inc. grew its position in PennyMac Financial Services by 0.7% during the first quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust’s stock worth $3,087,000 after buying an additional 232 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in PennyMac Financial Services by 91.3% in the first quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock valued at $1,753,000 after buying an additional 9,183 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $102.33 on Wednesday. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 32.49 and a beta of 1.79. The firm’s fifty day simple moving average is $107.85 and its 200-day simple moving average is $98.89. PennyMac Financial Services has a twelve month low of $70.29 and a twelve month high of $119.13. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The business had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same period last year, the firm earned $1.77 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that PennyMac Financial Services will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

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.