PennyMac Financial Services (NYSE:PFSI) Earns Equal Weight Rating from Analysts at Stephens

Stephens began coverage on shares of PennyMac Financial Services (NYSE:PFSI) in a note issued to investors on Friday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $100.00 price target on the real estate investment trust’s stock. Stephens’ price objective indicates a potential upside of 10.74% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Barclays decreased their target price on PennyMac Financial Services from $136.00 to $116.00 and set an “overweight” rating for the company in a research report on Monday, April 6th. Wells Fargo & Company dropped their target price on PennyMac Financial Services from $135.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Wall Street Zen cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a report on Monday, March 16th. Finally, Weiss Ratings lowered PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.25.

PennyMac Financial Services Trading Down 0.2%

PFSI opened at $90.30 on Friday. PennyMac Financial Services has a 52 week low of $82.65 and a 52 week high of $160.36. The business’s 50 day moving average is $89.66 and its two-hundred day moving average is $114.89. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 0.53 and a beta of 1.52. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.32.

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

Insider Buying and Selling at PennyMac Financial Services

In other news, Director Patrick Kinsella bought 2,250 shares of PennyMac Financial Services stock in a transaction on Thursday, February 12th. The stock was purchased at an average cost of $89.15 per share, with a total value of $200,587.50. Following the purchase, the director directly owned 34,210 shares of the company’s stock, valued at approximately $3,049,821.50. This trade represents a 7.04% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Derek Stark sold 1,066 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $87.66, for a total transaction of $93,445.56. Following the completion of the transaction, the insider owned 20,944 shares of the company’s stock, valued at approximately $1,835,951.04. This trade represents a 4.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 51,280 shares of company stock worth $4,630,853 in the last quarter. 15.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PFSI. Caitong International Asset Management Co. Ltd raised its position in shares of PennyMac Financial Services by 7,600.0% during 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 buying an additional 228 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in PennyMac Financial Services during the fourth quarter worth approximately $31,000. EverSource Wealth Advisors LLC acquired a new stake in PennyMac Financial Services in the second quarter worth approximately $26,000. GAMMA Investing LLC lifted its position in PennyMac Financial Services by 97.3% in the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 142 shares during the period. Finally, Strs Ohio bought a new position in PennyMac Financial Services during the 1st quarter valued at $30,000. Institutional investors own 57.87% of the company’s stock.

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.