PennyMac Financial Services (NYSE:PFSI) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of PennyMac Financial Services (NYSE:PFSI – Get Rating) in a research report report published on Thursday morning. The firm issued a hold rating on the real estate investment trust’s stock.

PFSI has been the subject of a number of other reports. Barclays upped their price objective on PennyMac Financial Services from $58.00 to $69.00 and gave the stock an equal weight rating in a report on Friday, February 3rd. JMP Securities cut PennyMac Financial Services from an outperform rating to a market perform rating in a report on Wednesday, January 18th. Finally, Wells Fargo & Company upgraded PennyMac Financial Services from an equal weight rating to an overweight rating and upped their price objective for the stock from $54.00 to $75.00 in a report on Tuesday, December 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $69.50.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $56.75 on Thursday. The firm has a market capitalization of $2.84 billion, a P/E ratio of 6.76 and a beta of 1.49. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The stock’s 50-day simple moving average is $63.15 and its two-hundred day simple moving average is $56.39. PennyMac Financial Services has a twelve month low of $38.53 and a twelve month high of $73.79.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. PennyMac Financial Services had a return on equity of 14.00% and a net margin of 23.95%. The firm had revenue of $340.45 million during the quarter, compared to analysts’ expectations of $326.70 million. As a group, equities analysts anticipate that PennyMac Financial Services will post 6.76 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Tuesday, February 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.41%. The ex-dividend date was Monday, February 13th. PennyMac Financial Services’s dividend payout ratio is presently 9.54%.

Insider Activity at PennyMac Financial Services

In related news, insider Donald J. White sold 6,136 shares of the stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $64.39, for a total transaction of $395,097.04. Following the completion of the sale, the insider now directly owns 6,236 shares in the company, valued at approximately $401,536.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other PennyMac Financial Services news, insider Donald J. White sold 6,136 shares of the stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $64.39, for a total value of $395,097.04. Following the completion of the sale, the insider now owns 6,236 shares in the company, valued at approximately $401,536.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Spector sold 15,000 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $60.80, for a total value of $912,000.00. Following the completion of the sale, the chief executive officer now owns 450,604 shares of the company’s stock, valued at approximately $27,396,723.20. The disclosure for this sale can be found here. Insiders sold 110,714 shares of company stock worth $6,947,837 in the last ninety days. 18.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in PennyMac Financial Services by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,776 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 250 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in PennyMac Financial Services by 4.1% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 6,543 shares of the real estate investment trust’s stock worth $371,000 after buying an additional 260 shares during the period. State of Wyoming lifted its holdings in PennyMac Financial Services by 9.3% in the 4th quarter. State of Wyoming now owns 5,512 shares of the real estate investment trust’s stock worth $312,000 after buying an additional 469 shares during the period. Neuberger Berman Group LLC raised its position in shares of PennyMac Financial Services by 13.7% in the 1st quarter. Neuberger Berman Group LLC now owns 3,914 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 472 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of PennyMac Financial Services by 19.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 486 shares in the last quarter. Hedge funds and other institutional investors own 67.03% of the company’s stock.

PennyMac Financial Services Company Profile

(Get Rating)

PennyMac Financial Services, Inc operates as a holding company, which engages in the production and servicing of U.S. residential mortgage loans. It operates through the following segments: Production, Servicing, and Investment Management. The Production segment includes mortgage loan origination, acquisition, and sale activities.