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

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $97.75.

Several analysts have recently issued reports on the company. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods reduced their price objective on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Barclays increased their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Wedbush restated an “outperform” rating and issued a $110.00 price target on shares of PennyMac Financial Services in a research note on Thursday, April 25th.

PennyMac Financial Services Trading Down 0.7 %

PFSI opened at $91.89 on Thursday. PennyMac Financial Services has a 52 week low of $62.15 and a 52 week high of $95.18. The business has a fifty day simple moving average of $91.65 and a 200-day simple moving average of $89.15. The firm has a market cap of $4.68 billion, a P/E ratio of 31.91, a P/E/G ratio of 0.60 and a beta of 1.72. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, topping the consensus estimate of $2.34 by $0.14. The business had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. On average, equities analysts expect that PennyMac Financial Services will post 10.55 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Tuesday, May 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.87%. PennyMac Financial Services’s dividend payout ratio is currently 27.78%.

Insider Buying and Selling

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total value of $931,600.00. Following the completion of the transaction, the chief executive officer now directly owns 240,604 shares in the company, valued at approximately $22,414,668.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total value of $931,600.00. Following the completion of the transaction, the chief executive officer now directly owns 240,604 shares in the company, valued at approximately $22,414,668.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total transaction of $1,048,800.00. Following the sale, the chief financial officer now directly owns 246,497 shares of the company’s stock, valued at $22,677,724. The disclosure for this sale can be found here. Insiders sold 77,865 shares of company stock worth $7,124,569 in the last ninety days. Insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

A number of institutional investors have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd purchased a new position in PennyMac Financial Services in the 3rd quarter valued at about $3,370,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at about $3,657,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at about $17,242,000. Graham Capital Management L.P. acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at about $1,237,000. Finally, American Century Companies Inc. raised its stake in shares of PennyMac Financial Services by 6.2% in the 3rd quarter. American Century Companies Inc. now owns 277,643 shares of the real estate investment trust’s stock valued at $18,491,000 after purchasing an additional 16,174 shares in the last quarter. 57.87% of the stock is 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.