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

PennyMac Financial Services, Inc. (NYSE:PFSI) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $97.75.

A number of equities analysts recently weighed in on the company. Wedbush reiterated an “outperform” rating and issued a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective 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. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Finally, Barclays increased their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th.

Insider Transactions at PennyMac Financial Services

In related news, Director Joseph F. Mazzella sold 16,465 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total value of $1,493,869.45. Following the transaction, the director now directly owns 116,546 shares of the company’s stock, valued at approximately $10,574,218.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PennyMac Financial Services news, Director Doug Jones sold 30,000 shares of the firm’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 sale, the director now owns 480,000 shares of the company’s stock, valued at approximately $43,915,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph F. Mazzella sold 16,465 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the sale, the director now directly owns 116,546 shares in the company, valued at approximately $10,574,218.58. The disclosure for this sale can be found here. Insiders sold 87,865 shares of company stock valued at $8,031,769 in the last three months. Corporate insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC raised 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 purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust bought a new position in PennyMac Financial Services in the 4th quarter valued at $36,000. TFO Wealth Partners LLC raised 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 purchasing an additional 1,141 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in PennyMac Financial Services in the 1st quarter valued at $202,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 1.1 %

NYSE:PFSI opened at $93.93 on Thursday. PennyMac Financial Services has a 1 year low of $62.15 and a 1 year high of $95.18. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 0.61 and a beta of 1.72. The business has a fifty day moving average of $91.30 and a 200-day moving average of $89.03. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating 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 analysts predict that PennyMac Financial Services will post 10.55 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Monday, May 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.

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.