PennyMac Financial Services (NYSE:PFSI) Upgraded at Wall Street Zen

PennyMac Financial Services (NYSE:PFSI) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company initiated coverage on shares of PennyMac Financial Services in a research note on Monday, August 25th. They issued an “overweight” rating and a $115.00 target price on the stock. Barclays decreased their price objective on shares of PennyMac Financial Services from $124.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 8th. Piper Sandler dropped their target price on shares of PennyMac Financial Services from $125.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. UBS Group cut their target price on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods upped their price target on PennyMac Financial Services from $117.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.33.

PennyMac Financial Services Trading Down 0.8%

NYSE PFSI opened at $123.73 on Monday. The firm has a market cap of $6.40 billion, a PE ratio of 17.16 and a beta of 1.51. PennyMac Financial Services has a 1-year low of $85.74 and a 1-year high of $130.02. The stock has a 50-day moving average of $110.37 and a 200-day moving average of $102.29. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.03.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $3.01 by ($1.99). PennyMac Financial Services had a return on equity of 12.18% and a net margin of 22.00%.The company had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $547.44 million. During the same period last year, the firm earned $1.85 earnings per share. PennyMac Financial Services’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that PennyMac Financial Services will post 13.77 EPS for the current year.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $105.73, for a total value of $528,650.00. Following the completion of the transaction, the chief executive officer owned 130,604 shares in the company, valued at approximately $13,808,760.92. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 5,850 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $108.20, for a total transaction of $632,970.00. Following the sale, the chief financial officer owned 228,175 shares in the company, valued at approximately $24,688,535. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,632 shares of company stock worth $3,910,766. 15.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. raised its position in shares of PennyMac Financial Services by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,289,819 shares of the real estate investment trust’s stock worth $429,454,000 after purchasing an additional 24,055 shares during the last quarter. Invesco Ltd. increased its position in PennyMac Financial Services by 4.5% during the first quarter. Invesco Ltd. now owns 1,237,118 shares of the real estate investment trust’s stock valued at $123,848,000 after acquiring an additional 53,660 shares during the last quarter. Orbis Allan Gray Ltd lifted its stake in shares of PennyMac Financial Services by 447.5% in the 1st quarter. Orbis Allan Gray Ltd now owns 926,775 shares of the real estate investment trust’s stock worth $92,779,000 after purchasing an additional 757,489 shares during the period. Millennium Management LLC raised its position in PennyMac Financial Services by 48.8% in the first quarter. Millennium Management LLC now owns 771,605 shares of the real estate investment trust’s stock worth $77,245,000 after acquiring an additional 253,031 shares during the period. Finally, Geode Capital Management LLC lifted its position in PennyMac Financial Services by 6.0% during the second quarter. Geode Capital Management LLC now owns 721,757 shares of the real estate investment trust’s stock valued at $71,924,000 after purchasing an additional 41,124 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

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.