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

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $111.50.

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

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $106.18 on Friday. PennyMac Financial Services has a fifty-two week low of $62.15 and a fifty-two week high of $119.13. The business’s fifty day moving average is $105.93 and its two-hundred day moving average is $97.07. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The firm has a market cap of $5.44 billion, a PE ratio of 29.33, a P/E/G ratio of 0.66 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI) last released 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). The business had revenue of $406.13 million for the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.11 earnings per share. Analysts anticipate that PennyMac Financial Services will post 11.06 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio is 33.15%.

Insider Buying and Selling at PennyMac Financial Services

In other news, insider Steven Richard Bailey sold 14,130 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now owns 14,670 shares in the company, valued at $1,714,629.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the director now directly owns 105,446 shares in the company, valued at approximately $10,325,272.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 79,855 shares of company stock valued at $8,571,899 over the last three months. 16.60% of the stock is owned by company insiders.

Institutional Trading of PennyMac Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the business. Edgestream Partners L.P. increased its stake in shares of PennyMac Financial Services by 256.9% in the second quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock worth $8,028,000 after buying an additional 61,087 shares during the last quarter. American Century Companies Inc. increased its position in shares of PennyMac Financial Services by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock worth $32,919,000 after purchasing an additional 40,676 shares during the last quarter. EMG Holdings L.P. raised its stake in shares of PennyMac Financial Services by 107.4% in the 2nd quarter. EMG Holdings L.P. now owns 64,451 shares of the real estate investment trust’s stock valued at $6,097,000 after purchasing an additional 33,370 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of PennyMac Financial Services during the first quarter worth about $2,570,000. Finally, Denali Advisors LLC grew its stake in PennyMac Financial Services by 179.2% in the first quarter. Denali Advisors LLC now owns 41,600 shares of the real estate investment trust’s stock worth $3,789,000 after purchasing an additional 26,700 shares in the last quarter. 57.87% of the stock is 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.