PennyMac Financial Services (NYSE:PFSI) Upgraded by Keefe, Bruyette & Woods to “Outperform”

PennyMac Financial Services (NYSE:PFSI) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Tuesday, Benzinga reports. The firm presently has a $105.00 target price on the real estate investment trust’s stock, up from their prior target price of $100.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 16.51% from the stock’s current price.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Financial Services in a report on Wednesday, January 10th. They set a “buy” rating and a $115.00 target price on the stock. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Barclays boosted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Wedbush boosted their target price on PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.13.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $90.12 on Tuesday. PennyMac Financial Services has a 52 week low of $56.16 and a 52 week high of $94.78. The stock has a market capitalization of $4.54 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 0.60 and a beta of 1.67. The stock has a 50 day moving average price of $88.14 and a 200 day moving average price of $81.08. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.75. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. The firm had revenue of $361.94 million for the quarter, compared to analyst estimates of $413.35 million. Analysts predict that PennyMac Financial Services will post 10.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider James Follette sold 2,617 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now owns 7,257 shares of the company’s stock, valued at $625,843.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Doug Jones sold 17,079 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $86.10, for a total transaction of $1,470,501.90. Following the transaction, the director now directly owns 23,892 shares of the company’s stock, valued at $2,057,101.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James Follette sold 2,617 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the sale, the insider now owns 7,257 shares of the company’s stock, valued at $625,843.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,802 shares of company stock worth $8,025,358. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently modified their holdings of the company. Quilter Plc purchased a new stake in shares of PennyMac Financial Services during the first quarter worth about $248,250,000. USA Financial Formulas purchased a new stake in PennyMac Financial Services in the fourth quarter worth about $25,000. Hexagon Capital Partners LLC lifted its holdings in PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust purchased a new stake in PennyMac Financial Services in the fourth quarter worth about $36,000. Finally, West Tower Group LLC purchased a new position in shares of PennyMac Financial Services during the fourth quarter valued at approximately $45,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.