Analysts Set PennyMac Financial Services, Inc. (NYSE:PFSI) PT at $122.50

Shares of PennyMac Financial Services, Inc. (NYSE:PFSIGet Free Report) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $122.50.

Several research firms have recently weighed in on PFSI. Piper Sandler lifted their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Barclays increased their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th.

Get Our Latest Stock Report on PFSI

Insider Buying and Selling

In other news, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00. Following the completion of the transaction, the chief executive officer now directly owns 190,604 shares in the company, valued at approximately $20,503,272.28. This represents a 4.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now owns 48,040 shares of the company’s stock, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,844 shares of company stock valued at $15,658,591 in the last quarter. Company insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PFSI. State Street Corp lifted its position in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after purchasing an additional 51,777 shares during the last quarter. XTX Topco Ltd acquired a new stake in PennyMac Financial Services during the third quarter valued at approximately $614,000. HighTower Advisors LLC bought a new position in PennyMac Financial Services during the 3rd quarter worth approximately $702,000. FORA Capital LLC acquired a new position in shares of PennyMac Financial Services in the 3rd quarter worth approximately $616,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of PennyMac Financial Services in the 3rd quarter worth approximately $24,644,000. 57.87% of the stock is owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $102.07 on Thursday. PennyMac Financial Services has a fifty-two week low of $81.93 and a fifty-two week high of $119.13. The firm’s 50 day moving average is $103.54 and its two-hundred day moving average is $102.41. The company has a market cap of $5.23 billion, a P/E ratio of 32.40 and a beta of 1.78. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSIGet Free Report) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The firm had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the previous year, the business posted $1.77 EPS. PennyMac Financial Services’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that PennyMac Financial Services will post 11.88 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

About PennyMac Financial Services

(Get Free Report

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.

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Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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