PennyMac Financial Services’ (PFSI) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of PennyMac Financial Services (NYSE:PFSI) in a research report released on Thursday, Benzinga reports. Wedbush currently has a $110.00 price target on the real estate investment trust’s stock. Wedbush also issued estimates for PennyMac Financial Services’ Q3 2024 earnings at $2.87 EPS, FY2024 earnings at $10.85 EPS and FY2025 earnings at $12.70 EPS.

Other research analysts also recently issued reports about the company. Barclays lifted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on PennyMac Financial Services in a report on Wednesday, January 10th. They set a buy rating and a $115.00 target price on the stock. StockNews.com raised PennyMac Financial Services from a sell rating to a hold rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods raised PennyMac Financial Services from a market perform rating to an outperform rating and lifted their price objective for the stock from $100.00 to $105.00 in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $98.38.

PennyMac Financial Services Trading Down 1.0 %

NYSE PFSI opened at $85.37 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90. PennyMac Financial Services has a twelve month low of $56.16 and a twelve month high of $94.78. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67. The business’s fifty day moving average is $87.95 and its 200 day moving average is $82.89.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. The company had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. As a group, sell-side analysts expect that PennyMac Financial Services will post 10.41 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be issued a $0.20 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.94%. PennyMac Financial Services’s payout ratio is currently 27.78%.

Insider Transactions at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $90.72, for a total value of $907,200.00. Following the transaction, the chief executive officer now owns 250,604 shares of the company’s stock, valued at $22,734,794.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO David Spector sold 10,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the transaction, the chief executive officer now owns 250,604 shares of the company’s stock, valued at $22,734,794.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction, the insider now directly 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 quarter, insiders have sold 87,802 shares of company stock valued at $7,666,108. 17.40% of the stock is currently owned by company insiders.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new stake in PennyMac Financial Services during the fourth quarter valued at about $25,000. Hexagon Capital Partners LLC boosted its position in PennyMac Financial Services by 128.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust purchased a new stake in PennyMac Financial Services during the fourth quarter valued at about $36,000. Exchange Traded Concepts LLC purchased a new stake in shares of PennyMac Financial Services during the third quarter worth about $57,000. Finally, TFO Wealth Partners LLC boosted its holdings in shares of PennyMac Financial Services by 16,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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