Brokerages Set PennyMac Financial Services Inc (NYSE:PFSI) Target Price at $24.00

Shares of PennyMac Financial Services Inc (NYSE:PFSI) have been given an average recommendation of “Buy” by the six ratings firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $24.00.

PFSI has been the topic of several recent analyst reports. Wedbush reaffirmed an “outperform” rating on shares of PennyMac Financial Services in a research note on Thursday, April 4th. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th.

In related news, insider Anne Mccallion sold 10,000 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $22.70, for a total transaction of $227,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Spector sold 39,940 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $22.60, for a total value of $902,644.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,940 shares of company stock worth $4,451,774. Corporate insiders own 22.17% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. lifted its stake in PennyMac Financial Services by 10.6% during the 4th quarter. Citigroup Inc. now owns 5,982 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 573 shares in the last quarter. Nordea Investment Management AB lifted its stake in PennyMac Financial Services by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 102,265 shares of the real estate investment trust’s stock worth $2,174,000 after acquiring an additional 865 shares in the last quarter. New York State Teachers Retirement System acquired a new position in PennyMac Financial Services during the 1st quarter worth about $38,000. Systematic Financial Management LP lifted its stake in PennyMac Financial Services by 3.2% during the 1st quarter. Systematic Financial Management LP now owns 56,625 shares of the real estate investment trust’s stock worth $1,259,000 after acquiring an additional 1,755 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in PennyMac Financial Services by 2.6% during the 1st quarter. First Trust Advisors LP now owns 111,812 shares of the real estate investment trust’s stock worth $2,487,000 after acquiring an additional 2,862 shares in the last quarter. 30.70% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:PFSI traded down $0.04 during trading hours on Friday, hitting $22.94. The company had a trading volume of 273,082 shares, compared to its average volume of 370,113. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.64. The business’s 50-day moving average price is $21.99. The firm has a market capitalization of $1.80 billion, a P/E ratio of 8.86, a P/E/G ratio of 0.77 and a beta of 0.47. PennyMac Financial Services has a 1 year low of $18.77 and a 1 year high of $24.50.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). PennyMac Financial Services had a net margin of 11.79% and a return on equity of 6.57%. The company had revenue of $247.71 million during the quarter, compared to analysts’ expectations of $246.88 million. On average, equities analysts expect that PennyMac Financial Services will post 2.98 earnings per share for the current year.

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. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

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