PennyMac Financial Services (NYSE:PFSI) Price Target Cut to $112.00 by Analysts at Deutsche Bank Aktiengesellschaft

PennyMac Financial Services (NYSE:PFSI) had its price objective reduced by research analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $112.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 31.33% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Barclays lifted their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $100.00 to $105.00 in a report on Tuesday, April 9th. StockNews.com raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, Wedbush restated an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.38.

PennyMac Financial Services Price Performance

PFSI stock traded down $6.79 during trading on Thursday, reaching $85.28. The company’s stock had a trading volume of 589,733 shares, compared to its average volume of 234,709. PennyMac Financial Services has a 1 year low of $56.16 and a 1 year high of $94.78. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $4.30 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67. The company’s fifty day moving average is $87.88 and its 200-day moving average is $82.82.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. The firm had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. On average, research analysts expect that PennyMac Financial Services will post 10.41 earnings per share for the current fiscal year.

Insider Buying and Selling at PennyMac Financial Services

In related news, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the completion of the sale, the chief executive officer now directly owns 270,604 shares in the company, valued at $23,591,256.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the sale, the chief executive officer now owns 270,604 shares in the company, valued at approximately $23,591,256.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Follette sold 2,617 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the sale, the insider now owns 7,257 shares in the company, valued at approximately $625,843.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,802 shares of company stock valued at $7,666,108. 17.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Large investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at approximately $31,258,000. Boston Partners purchased a new position in shares of PennyMac Financial Services in the fourth quarter worth about $28,191,000. Jacobs Levy Equity Management Inc. purchased a new position in PennyMac Financial Services during the 3rd quarter valued at about $17,242,000. Invesco Ltd. increased its holdings in PennyMac Financial Services by 47.6% during the 3rd quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after purchasing an additional 158,181 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in PennyMac Financial Services by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock valued at $237,851,000 after acquiring an additional 70,178 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

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.