PennyMac Financial Services (NYSE:PFSI) Reaches New 12-Month High on Analyst Upgrade

PennyMac Financial Services, Inc. (NYSE:PFSI)’s stock price hit a new 52-week high during mid-day trading on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $100.00 to $102.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. PennyMac Financial Services traded as high as $96.35 and last traded at $95.97, with a volume of 27015 shares traded. The stock had previously closed at $92.66.

PFSI has been the subject of several other reports. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Barclays increased their price objective 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. Finally, Wedbush restated an “outperform” rating and set a $110.00 target price on shares of PennyMac Financial Services in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.00.

Insider Activity 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 on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total transaction of $920,600.00. Following the completion of the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at $20,308,804.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total value of $920,600.00. Following the completion of the transaction, the chief executive officer now owns 220,604 shares in the company, valued at approximately $20,308,804.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph F. Mazzella sold 16,465 shares of the company’s stock in a transaction dated 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 sale, the director now owns 116,546 shares in the company, valued at approximately $10,574,218.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,865 shares of company stock worth $8,045,169. Corporate insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. USA Financial Formulas purchased a new position in shares of PennyMac Financial Services in the 4th quarter worth about $25,000. Hexagon Capital Partners LLC lifted its position in shares of PennyMac Financial Services by 128.9% during the 4th 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 during the 4th quarter valued at approximately $36,000. TFO Wealth Partners LLC lifted its holdings in PennyMac Financial Services by 16,300.0% during 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 purchasing an additional 1,141 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of PennyMac Financial Services in the first quarter worth $202,000. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Performance

The company has a market cap of $5.10 billion, a PE ratio of 34.78, a PEG ratio of 0.60 and a beta of 1.72. 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 business’s 50 day moving average is $92.29 and its two-hundred day moving average is $89.34.

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 for the quarter, beating 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 firm had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. On average, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Tuesday, May 14th were paid a $0.20 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 0.80%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 27.78%.

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.