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

Shares of PennyMac Financial Services, Inc. (NYSE:PFSIGet Rating) have earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $68.60.

Several analysts recently issued reports on PFSI shares. Piper Sandler lowered 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. Barclays lowered their target price on PennyMac Financial Services from $90.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, July 11th.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $49.53 on Friday. The business’s 50-day simple moving average is $54.07 and its 200-day simple moving average is $50.58. The firm has a market capitalization of $2.75 billion, a P/E ratio of 4.19 and a beta of 1.29. PennyMac Financial Services has a 1-year low of $38.53 and a 1-year high of $71.52. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.63 and a quick ratio of 0.63.

PennyMac Financial Services (NYSE:PFSIGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $1.06. PennyMac Financial Services had a net margin of 27.37% and a return on equity of 23.04%. The firm had revenue of $511.52 million for the quarter, compared to analysts’ expectations of $475.70 million. Equities analysts predict that PennyMac Financial Services will post 7.62 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Tuesday, August 16th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, August 15th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 6.77%.

Insiders Place Their Bets

In other news, Director Joseph F. Mazzella sold 14,295 shares of the stock in a transaction that occurred on 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 directly 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 can be accessed through the SEC website. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $54.87, for a total value of $713,310.00. Following the sale, the director now owns 174,891 shares in the company, valued at $9,596,269.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph F. Mazzella sold 14,295 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $16,885,503.60. The disclosure for this sale can be found here. Insiders have sold 85,941 shares of company stock valued at $4,848,629 over the last quarter. Insiders own 18.00% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Several large investors have recently added to or reduced their stakes in PFSI. Nisa Investment Advisors LLC acquired a new stake in shares of PennyMac Financial Services in the 2nd quarter worth approximately $25,000. Point72 Hong Kong Ltd acquired a new stake in PennyMac Financial Services in the fourth quarter worth approximately $58,000. Ensign Peak Advisors Inc bought a new position in PennyMac Financial Services during the 4th quarter valued at $120,000. Captrust Financial Advisors raised its stake in shares of PennyMac Financial Services by 75.9% in the 2nd quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 1,247 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in PennyMac Financial Services by 19.9% during the first quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 486 shares in the last quarter. 61.61% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Financial Services

(Get Rating)

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.

See Also

Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.