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

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $122.17.

A number of brokerages have recently commented on PFSI. Wedbush restated an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lowered 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 report on Tuesday, December 10th.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Doug Jones sold 23,229 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $101.51, for a total transaction of $2,357,975.79. Following the completion of the transaction, the director now owns 23,892 shares of the company’s stock, valued at $2,425,276.92. This represents a 49.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel Stanley Perotti sold 16,481 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $101.56, for a total value of $1,673,810.36. Following the completion of the sale, the chief financial officer now directly owns 37,501 shares in the company, valued at $3,808,601.56. This represents a 30.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,344 shares of company stock worth $12,979,181. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

A number of hedge funds have recently modified their holdings of the business. Jump Financial LLC acquired a new position in PennyMac Financial Services during the fourth quarter worth about $306,000. Mariner LLC boosted its holdings in shares of PennyMac Financial Services by 120.1% during the 4th quarter. Mariner LLC now owns 6,026 shares of the real estate investment trust’s stock worth $615,000 after purchasing an additional 3,288 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of PennyMac Financial Services by 5.8% during the 4th quarter. Ameritas Investment Partners Inc. now owns 2,797 shares of the real estate investment trust’s stock worth $286,000 after purchasing an additional 154 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 343 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at approximately $1,307,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Trading Up 1.2 %

NYSE:PFSI opened at $101.01 on Friday. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.20 and a beta of 1.78. PennyMac Financial Services has a 52 week low of $83.03 and a 52 week high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The firm has a 50 day moving average of $104.03 and a 200 day moving average of $104.58.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.80%. As a group, sell-side analysts anticipate that PennyMac Financial Services will post 13.98 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, February 23rd. Investors of record on Thursday, February 13th will be paid a $0.30 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

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.