PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Posted by MarketBeat News on Aug 4th, 2022

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $72.17.

A number of research analysts recently issued reports on the company. BTIG Research initiated coverage on PennyMac Financial Services in a report on Wednesday, April 20th. They issued a “buy” rating and a $60.00 target price for the company. Piper Sandler decreased their price target on PennyMac Financial Services from $82.00 to $79.00 and set an “overweight” rating for the company in a report on Tuesday, June 28th. StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, May 19th. Barclays decreased their price target on PennyMac Financial Services from $90.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, July 11th. Finally, JMP Securities decreased their price target on PennyMac Financial Services from $75.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, May 25th.

Insider Transactions at PennyMac Financial Services

In other news, Director Joseph F. Mazzella sold 14,295 shares of PennyMac Financial Services stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $50.10, for a total transaction of $716,179.50. Following the sale, the director now owns 337,036 shares in the company, valued at $16,885,503.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Joseph F. Mazzella sold 14,295 shares of the business’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $50.10, for a total value of $716,179.50. Following the transaction, the director now owns 337,036 shares in the company, valued at approximately $16,885,503.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph F. Mazzella sold 13,000 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $50.12, for a total value of $651,560.00. Following the completion of the transaction, the director now owns 351,331 shares in the company, valued at approximately $17,608,709.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,795 shares of company stock worth $1,480,640. Corporate insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

Several institutional investors have recently added to or reduced their stakes in PFSI. Nisa Investment Advisors LLC acquired a new position in PennyMac Financial Services during the 2nd quarter worth approximately $25,000. Janney Montgomery Scott LLC increased its position in PennyMac Financial Services by 23.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,126 shares of the real estate investment trust’s stock worth $268,000 after purchasing an additional 1,169 shares during the period. Victory Capital Management Inc. increased its position in PennyMac Financial Services by 6.8% during the 2nd quarter. Victory Capital Management Inc. now owns 15,549 shares of the real estate investment trust’s stock worth $680,000 after purchasing an additional 987 shares during the period. SG Americas Securities LLC increased its position in PennyMac Financial Services by 176.2% during the 2nd quarter. SG Americas Securities LLC now owns 10,439 shares of the real estate investment trust’s stock worth $456,000 after purchasing an additional 6,660 shares during the period. Finally, Versor Investments LP acquired a new position in PennyMac Financial Services during the 2nd quarter worth approximately $667,000. Institutional investors and hedge funds own 62.61% of the company’s stock.

PennyMac Financial Services Trading Up 8.5 %

NYSE:PFSI opened at $57.11 on Thursday. The firm has a market cap of $3.17 billion, a PE ratio of 4.58 and a beta of 1.30. The stock has a fifty day moving average price of $47.78 and a 200 day moving average price of $52.18. PennyMac Financial Services has a 12-month low of $38.53 and a 12-month high of $71.52. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 1.63.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released its earnings results on Thursday, May 5th. The real estate investment trust reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.05. The firm had revenue of $657.50 million during the quarter, compared to analyst estimates of $622.14 million. PennyMac Financial Services had a return on equity of 25.12% and a net margin of 27.78%. PennyMac Financial Services’s revenue was down 30.4% compared to the same quarter last year. During the same period last year, the business posted $5.15 earnings per share. Sell-side analysts anticipate that PennyMac Financial Services will post 6.83 earnings per share for the current fiscal year.

PennyMac Financial Services Company Profile

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PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.