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

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

A number of research firms recently commented on PFSI. Piper Sandler increased their target price 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. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Barclays raised their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised 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 report on Thursday, October 24th.

Insider Buying and Selling

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the transaction, the chief accounting officer now directly owns 48,040 shares of the company’s stock, valued at $4,904,403.60. The trade was a 5.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the sale, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. This trade represents a 49.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,162 shares of company stock worth $7,491,026. 16.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. grew its holdings in PennyMac Financial Services by 3.0% during the 2nd quarter. QRG Capital Management Inc. now owns 34,900 shares of the real estate investment trust’s stock worth $3,302,000 after acquiring an additional 1,008 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 109 shares during the period. SG Americas Securities LLC lifted its stake in shares of PennyMac Financial Services by 36.9% in the second quarter. SG Americas Securities LLC now owns 3,040 shares of the real estate investment trust’s stock valued at $288,000 after purchasing an additional 820 shares during the period. Blue Trust Inc. increased its holdings in PennyMac Financial Services by 1,529.6% during 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 in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in PennyMac Financial Services by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,245 shares of the real estate investment trust’s stock valued at $17,240,000 after acquiring an additional 4,930 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $107.13 on Friday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s 50 day moving average price is $105.96 and its 200-day moving average price is $100.69. PennyMac Financial Services has a 52-week low of $77.08 and a 52-week high of $119.13. The company has a market cap of $5.49 billion, a PE ratio of 34.01 and a beta of 1.79.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data 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 net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the prior year, the business posted $1.77 earnings per share. PennyMac Financial Services’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts forecast that PennyMac Financial Services will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. PennyMac Financial Services’s payout ratio is presently 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.