PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $107.17 Average Target Price from Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $107.17.

PFSI has been the topic of a number of recent analyst reports. Piper Sandler increased their target price on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Wedbush increased their price target on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target for the company. in a research note on Monday, July 22nd.

PennyMac Financial Services Trading Down 1.6 %

NYSE PFSI opened at $111.80 on Tuesday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The firm’s fifty day moving average price is $102.81 and its 200 day moving average price is $94.77. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 38.82, a price-to-earnings-growth ratio of 0.75 and a beta of 1.77. PennyMac Financial Services has a 12 month low of $62.15 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The company had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $1.11 earnings per share. On average, sell-side analysts expect that PennyMac Financial Services will post 10.61 earnings per share for the current fiscal year.

PennyMac Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Tuesday, August 13th. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio (DPR) is 41.67%.

Insider Transactions at PennyMac Financial Services

In other news, insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares in the company, valued at approximately $1,714,629.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total transaction of $920,600.00. Following the completion of the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at $20,308,804.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now owns 14,670 shares of the company’s stock, valued at $1,714,629.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,355 shares of company stock worth $8,306,734. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its stake in shares of PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 413 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 109 shares in the last quarter. TFO Wealth Partners LLC raised its stake in shares of PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 1,141 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services during the 1st quarter valued at about $202,000. Finally, Virtu Financial LLC bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth $253,000. 57.87% of the stock is owned by institutional investors and hedge funds.

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.