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

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $122.50.

A number of equities research analysts have recently weighed in on PFSI shares. Wells Fargo & Company boosted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods cut their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. Barclays lifted 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. Piper Sandler increased their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd.

Insiders Place Their Bets

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 3,032 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the transaction, the chief accounting officer now owns 48,040 shares in the company, valued at approximately $4,904,403.60. This represents a 5.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Spector sold 61,120 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $101.72, for a total value of $6,217,126.40. Following the completion of the transaction, the chief executive officer now owns 634,612 shares of the company’s stock, valued at approximately $64,552,732.64. The trade was a 8.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,133 shares of company stock worth $12,426,284. 16.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors have recently added to or reduced their stakes in PFSI. Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services during the third quarter valued at approximately $37,000. Blue Trust Inc. grew its stake in shares of PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 262 shares during the last quarter. KBC Group NV increased its position in PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 226 shares in the last quarter. Quantbot Technologies LP raised its stake in PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in PennyMac Financial Services in the third quarter worth $203,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $102.18 on Thursday. PennyMac Financial Services has a fifty-two week low of $81.93 and a fifty-two week high of $119.13. The firm’s fifty day moving average price is $103.84 and its 200-day moving average price is $102.32. The stock has a market cap of $5.24 billion, a P/E ratio of 32.44 and a beta of 1.78. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last posted 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). The firm had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. PennyMac Financial Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 earnings per share. On average, equities research analysts expect that PennyMac Financial Services will post 11.88 earnings per share 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. Shareholders of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s payout ratio 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.