PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $121.17.

PFSI has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Piper Sandler decreased their price target on PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price target for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price target on PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th.

Insider Buying and Selling

In other news, insider Mark Elbaum sold 410 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $102.88, for a total transaction of $42,180.80. Following the completion of the sale, the insider now directly owns 4,207 shares of the company’s stock, valued at $432,816.16. This trade represents a 8.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Spector sold 5,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total value of $517,200.00. Following the completion of the transaction, the chief executive officer now owns 150,604 shares of the company’s stock, valued at $15,578,477.76. This trade represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,910 shares of company stock worth $3,671,336. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of PFSI. CWM LLC boosted its holdings in shares of PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 113 shares during the period. Strs Ohio acquired a new position in shares of PennyMac Financial Services in the first quarter worth about $30,000. TD Waterhouse Canada Inc. acquired a new position in shares of PennyMac Financial Services in the fourth quarter worth about $39,000. Sterling Capital Management LLC boosted its stake in PennyMac Financial Services by 601.8% in the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 343 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in PennyMac Financial Services in the 4th quarter worth approximately $71,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $97.02 on Thursday. PennyMac Financial Services has a 12-month low of $85.74 and a 12-month high of $119.13. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.19 and a beta of 1.55. The business has a 50 day simple moving average of $96.55 and a 200 day simple moving average of $100.02. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.30 and a quick ratio of 0.30.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.99 by ($1.57). The company had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a net margin of 20.27% and a return on equity of 14.78%. During the same quarter in the prior year, the company earned $0.74 EPS. On average, equities research analysts anticipate that PennyMac Financial Services will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Wednesday, May 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Wednesday, May 14th. PennyMac Financial Services’s payout ratio is 18.40%.

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.