PennyMac Financial Services (NYSE:PFSI) Sets New 1-Year High at $94.90

PennyMac Financial Services, Inc. (NYSE:PFSI) shares reached a new 52-week high on Friday . The stock traded as high as $94.90 and last traded at $94.60, with a volume of 1260217 shares traded. The stock had previously closed at $92.67.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Barclays upped their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 target price on shares of PennyMac Financial Services in a report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. StockNews.com raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.75.

PennyMac Financial Services Trading Up 2.1 %

The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 32.85, a P/E/G ratio of 0.61 and a beta of 1.70. The business’s 50-day simple moving average is $91.22 and its 200-day simple moving average is $88.96.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The company had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. On average, research analysts expect that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.20 per share. The ex-dividend date was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.85%. PennyMac Financial Services’s payout ratio is presently 27.78%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $93.16, for a total transaction of $931,600.00. Following the transaction, the chief executive officer now directly owns 240,604 shares in the company, valued at approximately $22,414,668.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Doug Jones sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $91.49, for a total transaction of $2,744,700.00. Following the completion of the transaction, the director now directly owns 480,000 shares of the company’s stock, valued at approximately $43,915,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total transaction of $931,600.00. Following the transaction, the chief executive officer now directly owns 240,604 shares of the company’s stock, valued at $22,414,668.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 87,865 shares of company stock worth $8,031,769. Company insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. USA Financial Formulas bought a new position in shares of PennyMac Financial Services in the fourth quarter valued at $25,000. Hexagon Capital Partners LLC grew its stake in shares of PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 205 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in shares of PennyMac Financial Services in the fourth quarter valued at $36,000. TFO Wealth Partners LLC grew its stake 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 buying an additional 1,141 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services in the first quarter valued at $202,000. 57.87% of the stock is owned by 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.