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

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

PFSI has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their price target on 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 target price 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.

PennyMac Financial Services Trading Up 0.6 %

Shares of PFSI stock opened at $103.52 on Friday. PennyMac Financial Services has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The company has a 50 day moving average price of $102.33 and a 200 day moving average price of $104.26. The stock has a market capitalization of $5.32 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results 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 return on equity of 16.61% and a net margin of 19.54%. Equities research analysts predict that PennyMac Financial Services will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Insider Buying and Selling

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $101.49, for a total value of $1,065,645.00. Following the completion of the sale, the chief financial officer now directly owns 214,997 shares of the company’s stock, valued at $21,820,045.53. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Spector sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $103.44, for a total value of $517,200.00. Following the transaction, the chief executive officer now directly owns 150,604 shares in the company, valued at approximately $15,578,477.76. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,054 shares of company stock worth $4,995,586 over the last 90 days. 16.60% of the stock is owned by insiders.

Institutional Trading of PennyMac Financial Services

A number of large investors have recently made changes to their positions in the company. ProShare Advisors LLC lifted its stake in PennyMac Financial Services by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 7,530 shares of the real estate investment trust’s stock valued at $769,000 after buying an additional 2,478 shares during the last quarter. Millennium Management LLC increased its holdings in shares of PennyMac Financial Services by 104.5% in the 4th quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust’s stock valued at $52,967,000 after acquiring an additional 264,956 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PennyMac Financial Services by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust’s stock valued at $1,554,000 after purchasing an additional 606 shares during the last quarter. Interval Partners LP boosted its stake in PennyMac Financial Services by 379.7% during the 4th quarter. Interval Partners LP now owns 39,320 shares of the real estate investment trust’s stock worth $4,016,000 after purchasing an additional 31,123 shares during the period. Finally, Crestline Management LP purchased a new position in PennyMac Financial Services during the 4th quarter worth $974,000. 57.87% of the stock is owned by institutional investors and hedge funds.

About PennyMac Financial Services

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.