PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Average Recommendation of “Moderate Buy” from Analysts

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

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target 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 reduced their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Finally, Barclays lifted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th.

PennyMac Financial Services Trading Up 0.9 %

PFSI opened at $107.63 on Monday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The company’s 50 day simple moving average is $103.35 and its two-hundred day simple moving average is $103.49. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 0.18 and a beta of 1.78. PennyMac Financial Services has a 1-year low of $81.93 and a 1-year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 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 company had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the previous year, the business posted $1.77 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Analysts expect that PennyMac Financial Services will post 11.76 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $100.02, for a total value of $1,050,210.00. Following the completion of the transaction, the chief financial officer now owns 225,497 shares in the company, valued at $22,554,209.94. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Spector sold 5,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total value of $496,900.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $16,457,725.52. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,844 shares of company stock worth $15,079,791 over the last ninety days. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Several large investors have recently bought and sold shares of PFSI. Harbor Capital Advisors Inc. purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at approximately $37,000. Blue Trust Inc. increased its holdings in PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 262 shares during the last quarter. KBC Group NV raised its stake in PennyMac Financial Services by 20.3% in the third 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 lifted its holdings in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in PennyMac Financial Services during the 3rd quarter worth about $203,000. Hedge funds and other 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.