Wells Fargo & Company Raises PennyMac Financial Services (NYSE:PFSI) Price Target to $125.00

PennyMac Financial Services (NYSE:PFSI) had its price objective lifted by Wells Fargo & Company from $110.00 to $125.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other research analysts also recently issued reports on the stock. Wedbush reiterated 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 cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a research note on Monday, July 22nd. Barclays boosted their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Finally, Piper Sandler boosted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.86.

PennyMac Financial Services Stock Down 0.2 %

Shares of NYSE:PFSI opened at $100.88 on Thursday. The company has a fifty day moving average of $107.79 and a 200-day moving average of $98.32. The company has a market capitalization of $5.14 billion, a PE ratio of 35.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.77. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. PennyMac Financial Services has a 52-week low of $62.75 and a 52-week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). The company had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 15.28% and a net margin of 11.45%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.77 earnings per share. On average, equities analysts predict that PennyMac Financial Services will post 11.22 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 41.67%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, Director Anne Mccallion sold 23,829 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the sale, the director now owns 1,854 shares of the company’s stock, valued at approximately $191,221.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other PennyMac Financial Services news, Director Anne Mccallion sold 23,829 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the sale, the director now owns 1,854 shares of the company’s stock, valued at approximately $191,221.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the transaction, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,855 shares of company stock valued at $9,647,599. 16.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in shares of PennyMac Financial Services by 1,529.6% during the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of PennyMac Financial Services by 29.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 109 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services during the 1st quarter worth about $202,000. nVerses Capital LLC bought a new position in shares of PennyMac Financial Services during the 3rd quarter worth about $285,000. Finally, Cannon Global Investment Management LLC bought a new position in shares of PennyMac Financial Services during the 2nd quarter worth about $255,000. Institutional investors own 57.87% of the company’s stock.

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.