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

PennyMac Financial Services (NYSE:PFSI) had its price target boosted by analysts at Piper Sandler from $112.00 to $125.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price would suggest a potential upside of 9.65% from the company’s previous close.

Several other research analysts have also recently commented on the company. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a research note on Monday, July 22nd. Wedbush boosted their price target on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $109.33.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $114.00 on Tuesday. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $119.13. The business has a 50-day moving average of $104.18 and a 200-day moving average of $95.94. 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 $5.81 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 0.72 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the company earned $1.11 EPS. PennyMac Financial Services’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities analysts anticipate that PennyMac Financial Services will post 10.61 EPS for the current fiscal year.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total transaction of $920,600.00. Following the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at approximately $20,308,804.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph F. Mazzella sold 11,396 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Spector sold 10,000 shares of the 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 sale, the chief executive officer now owns 220,604 shares of the company’s stock, valued at approximately $20,308,804.24. The disclosure for this sale can be found here. Insiders have sold 89,855 shares of company stock worth $9,492,499 over the last quarter. 16.60% of the stock is owned by corporate insiders.

Institutional Trading of PennyMac Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of PFSI. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 413 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 109 shares during the last quarter. TFO Wealth Partners LLC grew its position in shares of PennyMac Financial Services by 16,300.0% in the fourth 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. SG Americas Securities LLC acquired a new stake in shares of PennyMac Financial Services in the first quarter valued at about $202,000. Finally, Virtu Financial LLC acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at about $253,000. 57.87% of the stock is currently owned by hedge funds and other 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.