PennyMac Financial Services (NYSE:PFSI) Stock Rating Lowered by StockNews.com

PennyMac Financial Services (NYSE:PFSI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $110.00 price objective on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Barclays upped their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $97.75.

PennyMac Financial Services Stock Up 1.1 %

Shares of NYSE:PFSI opened at $93.93 on Wednesday. PennyMac Financial Services has a 12-month low of $62.15 and a 12-month high of $95.18. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. The stock’s 50-day moving average price is $91.45 and its 200-day moving average price is $89.06. The stock has a market capitalization of $4.78 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 0.60 and a beta of 1.72.

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

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 16,465 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the completion of the transaction, the director now owns 116,546 shares of the company’s stock, valued at $10,574,218.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 16,465 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the completion of the transaction, the director now owns 116,546 shares of the company’s stock, valued at $10,574,218.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $90.56, for a total value of $905,600.00. Following the completion of the sale, the chief executive officer now directly owns 230,604 shares in the company, valued at $20,883,498.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,865 shares of company stock worth $8,031,769. 16.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in PennyMac Financial Services by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock valued at $237,851,000 after purchasing an additional 70,178 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock valued at $238,509,000 after acquiring an additional 8,345 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in PennyMac Financial Services by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust’s stock worth $35,060,000 after acquiring an additional 3,947 shares during the last quarter. Norges Bank purchased a new stake in PennyMac Financial Services during the 4th quarter valued at $31,258,000. Finally, Boston Partners bought a new stake in shares of PennyMac Financial Services in the 4th quarter worth $28,191,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.