PennyMac Financial Services (NYSE:PFSI) PT Raised to $125.00 at Barclays

PennyMac Financial Services (NYSE:PFSI) had its target price boosted by Barclays from $112.00 to $125.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on PFSI. StockNews.com downgraded shares of PennyMac Financial Services from a hold rating to a sell rating in a report on Wednesday, July 3rd. Wedbush upped their target price on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an outperform rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods lowered 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. Finally, Piper Sandler boosted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an overweight rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $111.50.

PennyMac Financial Services Stock Down 0.1 %

PFSI opened at $106.14 on Tuesday. The firm’s 50 day simple moving average is $105.76 and its two-hundred day simple moving average is $96.96. The company has a market capitalization of $5.43 billion, a PE ratio of 29.32, a PEG ratio of 0.66 and a beta of 1.77. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $119.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly 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). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The company had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. During the same quarter in the previous year, the company earned $1.11 EPS. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, equities analysts forecast that PennyMac Financial Services will post 11.06 EPS for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. PennyMac Financial Services’s dividend payout ratio is presently 33.15%.

Insider Buying and Selling at PennyMac Financial Services

In other news, insider Steven Richard Bailey sold 14,130 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now directly owns 14,670 shares in the company, valued at approximately $1,714,629.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Steven Richard Bailey sold 14,130 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph F. Mazzella sold 11,396 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the sale, the director now directly owns 105,446 shares in the company, valued at $10,325,272.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 79,855 shares of company stock worth $8,571,899 over the last 90 days. 16.60% of the stock is owned by insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Several hedge funds have recently made changes to their positions in PFSI. Quadrature Capital Ltd bought a new position in shares of PennyMac Financial Services in the 4th quarter worth $967,000. Virtu Financial LLC purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at about $253,000. Vanguard Group Inc. boosted its holdings in shares of PennyMac Financial Services by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 2,610,041 shares of the real estate investment trust’s stock valued at $230,649,000 after buying an additional 19,748 shares in the last quarter. MorganRosel Wealth Management LLC grew its position in shares of PennyMac Financial Services by 2.2% in the 1st quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock worth $985,000 after buying an additional 236 shares during the last quarter. Finally, Denali Advisors LLC grew its position in shares of PennyMac Financial Services by 179.2% in the 1st quarter. Denali Advisors LLC now owns 41,600 shares of the real estate investment trust’s stock worth $3,789,000 after buying an additional 26,700 shares during the last quarter. 57.87% of the stock is currently 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.