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

PennyMac Financial Services (NYSE:PFSI) had its target price boosted by equities researchers at Barclays from $112.00 to $125.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential upside of 17.62% from the company’s previous close.

Several other equities analysts have also weighed in on PFSI. Wedbush boosted their target price 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. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods downgraded 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. Finally, Piper Sandler increased their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $111.50.

PennyMac Financial Services Trading Down 0.7 %

Shares of PennyMac Financial Services stock opened at $106.27 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 stock has a market cap of $5.41 billion, a P/E ratio of 36.90, a P/E/G ratio of 0.72 and a beta of 1.77. The stock’s 50 day simple moving average is $105.55 and its 200-day simple moving average is $96.89.

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 (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. During the same quarter in the previous year, the company earned $1.11 earnings per share. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. Analysts predict that PennyMac Financial Services will post 10.61 EPS for the current fiscal year.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00. Following the sale, the chief executive officer now directly owns 210,604 shares in the company, valued at $20,915,083.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Anne Mccallion sold 23,829 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $103.14, for a total value of $2,457,723.06. Following the completion of the transaction, the director now owns 1,854 shares in the company, valued at $191,221.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $99.31, for a total transaction of $993,100.00. Following the sale, the chief executive officer now directly owns 210,604 shares of the company’s stock, valued at approximately $20,915,083.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,855 shares of company stock worth $8,571,899. Corporate insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. increased its stake in 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 raised its stake 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 acquiring an additional 109 shares in the last quarter. SG Americas Securities LLC purchased a new stake in PennyMac Financial Services in the first quarter valued at $202,000. Virtu Financial LLC acquired a new position in PennyMac Financial Services in the fourth quarter valued at $253,000. Finally, Cannon Global Investment Management LLC acquired a new position in PennyMac Financial Services in the second quarter valued at $255,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

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.