PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $98.13 Consensus PT from Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI) has received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $98.13.

PFSI has been the topic of a number of research analyst reports. Wedbush raised their target price on PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, January 2nd. Barclays raised their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Financial Services in a report on Wednesday, January 10th. They issued a “buy” rating and a $115.00 target price on the stock. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $100.00 to $105.00 in a research report on Tuesday, April 9th. Finally, StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, April 11th.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $90.46 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 0.58 and a beta of 1.67. The business’s 50-day simple moving average is $87.74 and its 200-day simple moving average is $82.64. PennyMac Financial Services has a 52 week low of $56.16 and a 52 week high of $94.78.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.75. The firm had revenue of $361.94 million for the quarter, compared to analyst estimates of $413.35 million. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. As a group, equities research analysts expect that PennyMac Financial Services will post 10.41 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Monday, February 12th. PennyMac Financial Services’s dividend payout ratio is 29.52%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the transaction, the chief financial officer now owns 257,897 shares of the company’s stock, valued at $22,823,884.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now owns 257,897 shares in the company, valued at $22,823,884.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Spector sold 26,451 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $86.05, for a total value of $2,276,108.55. Following the sale, the chief executive officer now owns 647,938 shares of the company’s stock, valued at approximately $55,755,064.90. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock valued at $7,666,108 in the last 90 days. 17.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently modified their holdings of the business. Hexagon Capital Partners LLC boosted its position in shares of PennyMac Financial Services by 128.9% during 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. Caxton Associates LP increased its stake in shares of PennyMac Financial Services by 3.6% during the third quarter. Caxton Associates LP now owns 5,874 shares of the real estate investment trust’s stock worth $391,000 after purchasing an additional 206 shares during the period. MorganRosel Wealth Management LLC increased its stake in shares of PennyMac Financial Services by 2.2% during the first quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock worth $985,000 after purchasing an additional 236 shares during the period. USA Financial Formulas bought a new position in shares of PennyMac Financial Services during the fourth quarter worth approximately $25,000. Finally, Teacher Retirement System of Texas increased its stake in shares of PennyMac Financial Services by 4.1% during the third quarter. Teacher Retirement System of Texas now owns 9,774 shares of the real estate investment trust’s stock worth $651,000 after purchasing an additional 385 shares during the period. 57.87% of the stock is currently owned by institutional investors.

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.