Q3 2024 EPS Estimates for PennyMac Financial Services, Inc. Raised by Wedbush (NYSE:PFSI)

PennyMac Financial Services, Inc. (NYSE:PFSI) – Analysts at Wedbush lifted their Q3 2024 earnings per share estimates for shares of PennyMac Financial Services in a note issued to investors on Thursday, April 25th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings of $2.87 per share for the quarter, up from their previous estimate of $2.78. Wedbush has a “Outperform” rating and a $110.00 price objective on the stock. The consensus estimate for PennyMac Financial Services’ current full-year earnings is $10.58 per share. Wedbush also issued estimates for PennyMac Financial Services’ FY2024 earnings at $10.85 EPS and FY2025 earnings at $12.70 EPS.

PFSI has been the topic of several other research reports. Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays increased their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.75.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $87.00 on Friday. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67. PennyMac Financial Services has a 12 month low of $56.16 and a 12 month high of $94.78. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s 50-day moving average is $87.83 and its 200-day moving average is $83.15.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.51%. The company had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be given a $0.20 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.92%. PennyMac Financial Services’s dividend payout ratio (DPR) is 27.78%.

Insider Buying and Selling at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 11,400 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the completion of the transaction, the chief financial officer now owns 257,897 shares of the company’s stock, valued at $22,823,884.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $88.50, for a total value of $1,008,900.00. Following the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at approximately $22,823,884.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total transaction of $907,200.00. Following the sale, the chief executive officer now owns 250,604 shares of the company’s stock, valued at $22,734,794.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,802 shares of company stock valued at $7,666,108. 17.40% of the stock is owned by corporate insiders.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of PFSI. Dakota Wealth Management lifted its holdings in shares of PennyMac Financial Services by 5.4% in the first quarter. Dakota Wealth Management now owns 21,230 shares of the real estate investment trust’s stock valued at $1,934,000 after purchasing an additional 1,083 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of PennyMac Financial Services during the first quarter valued at $6,182,000. Denali Advisors LLC raised its position in PennyMac Financial Services by 179.2% during the first quarter. Denali Advisors LLC now owns 41,600 shares of the real estate investment trust’s stock valued at $3,789,000 after buying an additional 26,700 shares during the period. MorganRosel Wealth Management LLC lifted its stake in PennyMac Financial Services by 2.2% in the 1st quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock worth $985,000 after acquiring an additional 236 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in PennyMac Financial Services during the 4th quarter worth about $967,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.