PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $131.14 Consensus Price Target from Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $131.1429.

Several equities research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of PennyMac Financial Services from $136.00 to $116.00 and set an “overweight” rating for the company in a report on Monday, April 6th. Weiss Ratings downgraded shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $115.00 price target on the stock in a research report on Monday, March 16th. Piper Sandler decreased their price objective on shares of PennyMac Financial Services from $137.00 to $122.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of PennyMac Financial Services from $135.00 to $110.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th.

Insider Transactions at PennyMac Financial Services

In other news, insider Derek Stark sold 1,903 shares of PennyMac Financial Services stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $91.50, for a total transaction of $174,124.50. Following the transaction, the insider directly owned 22,477 shares in the company, valued at approximately $2,056,645.50. This trade represents a 7.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Spector sold 12,436 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $86.39, for a total value of $1,074,346.04. Following the completion of the sale, the chief executive officer directly owned 529,401 shares in the company, valued at $45,734,952.39. This represents a 2.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 51,280 shares of company stock valued at $4,630,853 in the last quarter. Company insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new stake in shares of PennyMac Financial Services during the 2nd quarter valued at $26,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of PennyMac Financial Services by 7,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 228 shares during the last quarter. Strs Ohio acquired a new stake in shares of PennyMac Financial Services during the first quarter worth $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth $31,000. Finally, GAMMA Investing LLC lifted its holdings in shares of PennyMac Financial Services by 97.3% during the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 142 shares during the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Down 4.0%

Shares of PennyMac Financial Services stock opened at $90.55 on Wednesday. The company has a debt-to-equity ratio of 3.32, a current ratio of 0.34 and a quick ratio of 0.34. PennyMac Financial Services has a 1-year low of $82.65 and a 1-year high of $160.36. The business’s fifty day moving average price is $89.70 and its two-hundred day moving average price is $115.24. The company has a market capitalization of $4.72 billion, a P/E ratio of 9.74, a PEG ratio of 0.55 and a beta of 1.52.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($1.26). The business had revenue of $538.01 million during the quarter, compared to the consensus estimate of $639.81 million. PennyMac Financial Services had a return on equity of 10.20% and a net margin of 24.48%.The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.95 EPS. As a group, research analysts forecast that PennyMac Financial Services will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Monday, February 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.90%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.