PennyMac Financial Services (NYSE:PFSI) Announces Earnings Results

PennyMac Financial Services (NYSE:PFSI) announced its quarterly earnings data on Thursday. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21), Zacks reports. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%.

PennyMac Financial Services Stock Up 2.3 %

NYSE PFSI traded up $2.63 during trading hours on Thursday, hitting $114.73. 398,510 shares of the company were exchanged, compared to its average volume of 316,688. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The company has a 50 day moving average of $104.45 and a two-hundred day moving average of $104.31. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 0.20 and a beta of 1.78. PennyMac Financial Services has a 52-week low of $83.03 and a 52-week high of $119.13.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, Director Doug Jones sold 600 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $102.04, for a total value of $61,224.00. Following the sale, the director now directly owns 23,892 shares of the company’s stock, valued at approximately $2,437,939.68. This trade represents a 2.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the completion of the transaction, the chief executive officer now owns 180,604 shares in the company, valued at $18,970,644.16. The trade was a 5.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,844 shares of company stock valued at $15,079,791. Corporate insiders own 16.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PFSI shares. Barclays lifted 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. Wedbush reaffirmed an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. 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 for the company in a report on Tuesday, December 10th. Finally, Piper Sandler lifted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.50.

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.