PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $115.86 Consensus Price Target from Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $115.86.

PFSI has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 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 research report on Tuesday, October 8th. Wedbush reissued an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Finally, Piper Sandler upped their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd.

PennyMac Financial Services Stock Down 0.5 %

PFSI stock opened at $106.14 on Friday. The stock has a market capitalization of $5.44 billion, a PE ratio of 33.70 and a beta of 1.78. PennyMac Financial Services has a 52 week low of $78.71 and a 52 week high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The firm has a 50 day moving average of $105.85 and a 200 day moving average of $100.89.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The firm had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. PennyMac Financial Services’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. Sell-side analysts forecast that PennyMac Financial Services will post 11.88 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In other news, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the sale, the chief accounting officer now owns 48,040 shares of the company’s stock, valued at approximately $4,904,403.60. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. This trade represents a 49.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,162 shares of company stock worth $7,491,026. Corporate insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors have recently made changes to their positions in PFSI. QRG Capital Management Inc. grew its position in PennyMac Financial Services by 3.0% in the 2nd quarter. QRG Capital Management Inc. now owns 34,900 shares of the real estate investment trust’s stock valued at $3,302,000 after acquiring an additional 1,008 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in PennyMac Financial Services by 29.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 109 shares in the last quarter. SG Americas Securities LLC boosted its position in PennyMac Financial Services by 36.9% in the 2nd quarter. SG Americas Securities LLC now owns 3,040 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 820 shares during the period. Blue Trust Inc. grew its stake 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 worth $40,000 after acquiring an additional 413 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of PennyMac Financial Services by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 182,245 shares of the real estate investment trust’s stock worth $17,240,000 after acquiring an additional 4,930 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.