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

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $122.17.

A number of equities research analysts have issued reports on PFSI shares. 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 on the stock in a report on Tuesday, December 10th. Piper Sandler cut their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock opened at $96.04 on Tuesday. The firm has a market cap of $4.94 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. PennyMac Financial Services has a 12-month low of $83.03 and a 12-month high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The company’s fifty day simple moving average is $103.50 and its two-hundred day simple moving average is $105.18.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, equities analysts expect that PennyMac Financial Services will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s payout ratio is 20.55%.

Insider Activity

In related news, CFO Daniel Stanley Perotti sold 16,481 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $101.56, for a total transaction of $1,673,810.36. Following the sale, the chief financial officer now owns 37,501 shares of the company’s stock, valued at $3,808,601.56. The trade was a 30.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Spector sold 61,120 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the sale, the chief executive officer now directly owns 634,612 shares in the company, valued at $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 have sold 150,697 shares of company stock valued at $15,327,924. Corporate insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Several hedge funds have recently bought and sold shares of PFSI. Summit Global Investments bought a new stake in PennyMac Financial Services during the third quarter worth about $605,000. GSA Capital Partners LLP bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $347,000. Aigen Investment Management LP bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $280,000. KBC Group NV lifted its stake in shares of 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 worth $153,000 after buying an additional 226 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $956,000. 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.