Brokerages Set PennyMac Financial Services, Inc. (NYSE:PFSI) Price Target at $107.17

PennyMac Financial Services, Inc. (NYSE:PFSI) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $107.17.

A number of equities analysts recently weighed in on the stock. 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 research note on Wednesday, July 24th. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Piper Sandler lifted their target price on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods downgraded 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 report on Monday, July 22nd.

Insider Transactions at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total value of $920,600.00. Following the completion of the transaction, the chief executive officer now directly owns 220,604 shares of the company’s stock, valued at $20,308,804.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the sale, the chief executive officer now owns 220,604 shares in the company, valued at $20,308,804.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction that occurred 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 transaction, 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. Insiders have sold a total of 79,355 shares of company stock worth $8,306,734 in the last 90 days. Corporate insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in 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 buying an additional 413 shares in the last quarter. Hexagon Capital Partners LLC increased its position in 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 acquiring an additional 109 shares during the period. TFO Wealth Partners LLC raised its stake 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 worth $101,000 after purchasing an additional 1,141 shares in the last quarter. SG Americas Securities LLC bought a new stake in PennyMac Financial Services in the 1st quarter valued at about $202,000. Finally, Virtu Financial LLC acquired a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $253,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Down 2.1 %

Shares of PennyMac Financial Services stock opened at $113.72 on Tuesday. PennyMac Financial Services has a 1 year low of $62.15 and a 1 year high of $119.13. 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 company has a market capitalization of $5.82 billion, a P/E ratio of 39.83, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77. The business has a 50-day moving average of $102.27 and a two-hundred day moving average of $94.38.

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

PennyMac Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were given a dividend of $0.30 per share. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.06%. PennyMac Financial Services’s payout ratio is 41.67%.

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.