PennyMac Financial Services, Inc. (NYSE:PFSI) Given Average Recommendation of “Moderate Buy” by Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI) has received a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. One investment 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 analysts that have updated their coverage on the stock in the last year is $119.3333.

Several equities analysts have recently commented on the company. UBS Group reduced their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, July 24th. Wall Street Zen raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Monday. Barclays decreased their target price on shares of PennyMac Financial Services from $124.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price target on shares of PennyMac Financial Services from $117.00 to $121.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Finally, Piper Sandler reduced their price objective on PennyMac Financial Services from $125.00 to $121.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 23rd.

Insider Buying and Selling

In other news, Director Joseph F. Mazzella sold 7,107 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $108.16, for a total value of $768,693.12. Following the transaction, the director owned 86,050 shares in the company, valued at approximately $9,307,168. This trade represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $122.97, for a total transaction of $614,850.00. Following the completion of the transaction, the chief executive officer directly owned 125,604 shares in the company, valued at approximately $15,445,523.88. The trade was a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,632 shares of company stock worth $3,910,766. 15.80% of the stock is owned by company insiders.

Institutional Trading of PennyMac Financial Services

A number of institutional investors have recently modified their holdings of PFSI. GAMMA Investing LLC raised its holdings in shares of PennyMac Financial Services by 12,101.0% during the first quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust’s stock valued at $1,173,000 after acquiring an additional 11,617 shares in the last quarter. Rhumbline Advisers raised its holdings in PennyMac Financial Services by 1.6% in the 1st quarter. Rhumbline Advisers now owns 42,208 shares of the real estate investment trust’s stock worth $4,225,000 after purchasing an additional 679 shares in the last quarter. Lightrock Netherlands B.V. raised its holdings in PennyMac Financial Services by 55.1% in the 1st quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust’s stock worth $13,643,000 after purchasing an additional 48,312 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of PennyMac Financial Services by 45.9% in the 1st quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust’s stock worth $29,055,000 after purchasing an additional 91,338 shares during the period. Finally, Xponance Inc. bought a new stake in shares of PennyMac Financial Services during the 1st quarter valued at about $202,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $125.81 on Friday. PennyMac Financial Services has a 12-month low of $85.74 and a 12-month high of $130.02. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.03. The company has a market cap of $6.51 billion, a PE ratio of 17.45 and a beta of 1.59. The stock has a 50-day moving average price of $110.95 and a 200-day moving average price of $102.45.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $3.01 by ($1.99). PennyMac Financial Services had a return on equity of 12.18% and a net margin of 22.00%.The company had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $547.44 million. During the same period in the prior year, the firm earned $1.85 EPS. PennyMac Financial Services’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities analysts forecast that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Wednesday, August 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 13th. PennyMac Financial Services’s payout ratio is 16.64%.

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.