PennyMac Financial Services (NYSE:PFSI) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of PennyMac Financial Services (NYSE:PFSI) from a sell rating to a hold rating in a research note released on Wednesday.

Several other equities analysts have also recently commented on the company. Barclays boosted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods dropped their price target on PennyMac Financial Services from $105.00 to $100.00 and set an outperform rating for the company in a research note on Friday, April 26th. Wedbush reaffirmed an outperform rating and set a $110.00 price target on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PennyMac Financial Services from $115.00 to $112.00 and set a buy rating for the company in a research note on Thursday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $97.75.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $92.68 on Wednesday. The stock has a market cap of $4.72 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 0.60 and a beta of 1.70. PennyMac Financial Services has a fifty-two week low of $62.15 and a fifty-two week high of $94.80. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a fifty day moving average of $90.37 and a 200-day moving average of $88.34.

PennyMac Financial Services (NYSE:PFSI) last posted its 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. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The business had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. Equities research analysts anticipate that PennyMac Financial Services will post 10.55 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Monday, May 13th. PennyMac Financial Services’s payout ratio is 27.78%.

Insiders Place Their Bets

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total transaction of $931,600.00. Following the transaction, the chief executive officer now owns 240,604 shares in the company, valued at approximately $22,414,668.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total transaction of $931,600.00. Following the transaction, the chief executive officer now owns 240,604 shares in the company, valued at approximately $22,414,668.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Doug Jones sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $91.49, for a total value of $2,744,700.00. Following the transaction, the director now owns 480,000 shares in the company, valued at approximately $43,915,200. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,120 shares of company stock worth $8,501,777. Company insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFSI. USA Financial Formulas bought a new position in PennyMac Financial Services in the 4th quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its position in PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in PennyMac Financial Services in the 4th quarter valued at approximately $36,000. TFO Wealth Partners LLC lifted its position in 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 valued at $101,000 after acquiring an additional 1,141 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services during the 1st quarter valued at $202,000. 57.87% of the stock is owned by institutional investors.

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.