PennyMac Financial Services Inc (NYSE:PFSI) has been given a consensus rating of “Buy” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $34.20.
PFSI has been the subject of a number of research analyst reports. Credit Suisse Group upped their price target on shares of PennyMac Financial Services from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. Wells Fargo & Co raised shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research note on Thursday, September 5th. TheStreet upgraded shares of PennyMac Financial Services from a “c+” rating to a “b+” rating in a report on Wednesday, August 14th. Piper Jaffray Companies increased their target price on shares of PennyMac Financial Services from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Finally, ValuEngine upgraded shares of PennyMac Financial Services from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 19th.
Shares of PennyMac Financial Services stock traded down $0.09 during trading on Tuesday, hitting $33.72. The stock had a trading volume of 165,310 shares, compared to its average volume of 314,946. The business has a fifty day moving average of $32.22 and a two-hundred day moving average of $27.35. PennyMac Financial Services has a fifty-two week low of $19.55 and a fifty-two week high of $34.74. The firm has a market cap of $2.70 billion, a P/E ratio of 13.02, a PEG ratio of 0.76 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.18 and a quick ratio of 0.18.
The business also recently announced a dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, November 14th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 18.53%.
In other news, Chairman Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.72, for a total value of $460,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Stanford L. Kurland sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $30.71, for a total transaction of $1,381,950.00. Insiders have sold 233,628 shares of company stock worth $7,261,431 over the last ninety days. 22.17% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd grew its position in PennyMac Financial Services by 179.2% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,010 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,290 shares in the last quarter. Bank of Montreal Can boosted its position in shares of PennyMac Financial Services by 490.0% in the second quarter. Bank of Montreal Can now owns 2,602 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 2,161 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of PennyMac Financial Services during the second quarter valued at $65,000. SG Americas Securities LLC purchased a new position in shares of PennyMac Financial Services during the second quarter valued at $102,000. Finally, BNP Paribas Arbitrage SA purchased a new position in shares of PennyMac Financial Services during the second quarter valued at $107,000. Institutional investors and hedge funds own 50.89% of the company’s stock.
About PennyMac Financial Services
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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