PennyMac Financial Services, Inc. (NYSE:PFSI) Stock Has Average Price Target of $103.12 According to Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $101.25.

PFSI has been the topic of a number of recent research reports. BTIG Research decreased their price objective on PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Keefe, Bruyette & Woods cut their price objective on shares of PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Financial Services in a research report on Monday, August 3rd. Wall Street Zen lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Barclays dropped their price objective on PennyMac Financial Services from $85.00 to $71.00 and set an “equal weight” rating for the company in a report on Monday, October 5th.

Hedge Funds Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new position in shares of PennyMac Financial Services during the second quarter valued at $1,713,000. BlueCrest Capital Management Ltd raised its position in shares of PennyMac Financial Services by 12.8% during the second quarter. BlueCrest Capital Management Ltd now owns 396,103 shares of the real estate investment trust’s stock worth $34,501,000 after acquiring an additional 45,008 shares during the last quarter. Legal & General Group Plc bought a new position in PennyMac Financial Services during the 2nd quarter worth approximately $2,250,000. Donald Smith & CO. Inc. bought a new stake in shares of PennyMac Financial Services in the 2nd quarter valued at $163,940,000. Finally, BlackRock Inc. acquired a new stake in shares of PennyMac Financial Services during the second quarter worth $202,735,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Trading Up 0.0%

PFSI stock opened at $59.90 on Wednesday. The business has a fifty day moving average price of $70.52 and a 200 day moving average price of $80.43. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.38 and a quick ratio of 0.38. PennyMac Financial Services has a fifty-two week low of $59.12 and a fifty-two week high of $160.36. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 0.59 and a beta of 1.45.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.72). PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.18%. The business had revenue of $496.96 million during the quarter, compared to analyst estimates of $571.60 million. During the same quarter last year, the business posted $2.54 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. Analysts expect that PennyMac Financial Services will post 7.09 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Monday, August 17th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 16.48%.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE:PFSI) is a financial services company focused on the U.S. residential mortgage market. Through its operating subsidiaries, the company originates, acquires, services and manages investments in residential mortgage loans and related assets.

PennyMac’s business includes mortgage loan production through correspondent and consumer-direct channels, mortgage servicing and loan administration, and investment management activities. Its services support homeowners, mortgage originators and institutional investors across the residential lending lifecycle, including loan fulfillment, servicing and asset management.

The company was established in 2008 and serves customers and business partners throughout the United States.