PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $122.50.

A number of analysts have recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods dropped 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. Piper Sandler boosted their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays raised their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th.

Insider Activity at PennyMac Financial Services

In other news, CAO Gregory L. Hendry sold 3,032 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Monday, October 14th. The shares were sold at an average price of $107.57, for a total transaction of $1,075,700.00. Following the transaction, the chief executive officer now owns 190,604 shares in the company, valued at approximately $20,503,272.28. This trade represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,133 shares of company stock worth $12,426,284. Corporate insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

Large investors have recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $37,000. Blue Trust Inc. grew its stake in PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 262 shares in the last quarter. KBC Group NV grew its stake in PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 226 shares in the last quarter. Quantbot Technologies LP lifted its stake in PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 290 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in PennyMac Financial Services in the 3rd quarter worth $203,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Trading Up 1.2 %

Shares of NYSE PFSI opened at $102.18 on Thursday. PennyMac Financial Services has a 52-week low of $81.93 and a 52-week high of $119.13. The company has a market cap of $5.24 billion, a PE ratio of 32.44 and a beta of 1.78. The firm’s 50 day moving average price is $103.84 and its 200-day moving average price is $102.32. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The business had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the prior year, the firm earned $1.77 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that PennyMac Financial Services will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were issued a $0.30 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

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.