Brokerages Set PennyMac Financial Services, Inc. (NYSE:PFSI) PT at $122.50

PennyMac Financial Services, Inc. (NYSE:PFSI) has been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $122.50.

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut 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 research report on Tuesday, December 10th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Piper Sandler increased their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $16,457,725.52. This trade represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the completion of the sale, the chief financial officer now owns 225,497 shares in the company, valued at $22,554,209.94. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,844 shares of company stock worth $15,079,791 in the last quarter. 16.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in PennyMac Financial Services by 231.9% during the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock valued at $133,003,000 after purchasing an additional 815,389 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in PennyMac Financial Services during the 3rd quarter valued at approximately $24,644,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in PennyMac Financial Services in the 3rd quarter worth approximately $21,890,000. State Street Corp raised its holdings in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after purchasing an additional 51,777 shares during the last quarter. Finally, Barclays PLC lifted its holdings in PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock valued at $6,859,000 after acquiring an additional 50,238 shares during the period. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

PFSI stock opened at $109.65 on Monday. The company has a 50 day moving average price of $103.61 and a 200 day moving average price of $103.74. PennyMac Financial Services has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $5.62 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The firm had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.77 EPS. Analysts forecast that PennyMac Financial Services will post 11.76 EPS for the current year.

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.