PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Rating of “Moderate Buy” by Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $111.50.

PFSI has been the subject of several research reports. Barclays raised their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a research report on Monday, July 22nd. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Wedbush increased their price target on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Piper Sandler raised their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction on Monday, September 16th. The stock was 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Joseph F. Mazzella sold 11,396 shares of the business’s stock in a transaction on 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 owns 105,446 shares in the company, valued at $10,325,272.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,651,514.40. Following the completion of the sale, the insider now owns 14,670 shares of the company’s stock, valued at $1,714,629.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,855 shares of company stock valued at $9,647,599 in the last three months. Corporate insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in PennyMac Financial Services by 1,529.6% in the second 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 increased 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 worth $45,000 after purchasing an additional 109 shares during the period. SG Americas Securities LLC acquired a new stake in PennyMac Financial Services during the first quarter worth approximately $202,000. nVerses Capital LLC acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at $285,000. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of PennyMac Financial Services in the 2nd quarter valued at $255,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Up 1.8 %

PFSI stock opened at $110.92 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. PennyMac Financial Services has a fifty-two week low of $62.15 and a fifty-two week high of $119.13. The firm’s 50-day simple moving average is $106.81 and its 200 day simple moving average is $97.50. The stock has a market cap of $5.65 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 0.66 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (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 the consensus estimate of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. As a group, sell-side analysts predict that PennyMac Financial Services will post 11.06 EPS for the current year.

PennyMac Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 13th. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 1.08%. PennyMac Financial Services’s payout ratio is 41.67%.

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.