PennyMac Financial Services (NYSE:PFSI) Receives “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of PennyMac Financial Services (NYSE:PFSI) in a research report report published on Thursday, Benzinga reports. The firm currently has a $110.00 price target on the real estate investment trust’s stock. Wedbush also issued estimates for PennyMac Financial Services’ Q3 2024 earnings at $2.87 EPS, FY2024 earnings at $10.85 EPS and FY2025 earnings at $12.70 EPS.

Several other research analysts have also weighed in on PFSI. StockNews.com raised shares of PennyMac Financial Services from a sell rating to a hold rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a market perform rating to an outperform rating and increased their price target for the stock from $100.00 to $105.00 in a research report on Tuesday, April 9th. Barclays raised their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of PennyMac Financial Services in a report on Wednesday, January 10th. They set a buy rating and a $115.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, PennyMac Financial Services presently has a consensus rating of Moderate Buy and a consensus target price of $98.38.

PennyMac Financial Services Stock Down 1.0 %

Shares of PennyMac Financial Services stock opened at $85.37 on Thursday. PennyMac Financial Services has a 1 year low of $56.16 and a 1 year high of $94.78. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 0.61 and a beta of 1.67. 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 firm’s 50-day moving average is $87.95 and its two-hundred day moving average is $82.89.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating 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 business had revenue of $305.66 million for the quarter, compared to analysts’ expectations of $422.87 million. As a group, research analysts expect that PennyMac Financial Services will post 10.41 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.94%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.

Insider Activity at PennyMac Financial Services

In related news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the firm’s 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 completion of the sale, the insider now owns 7,257 shares of the company’s stock, valued at $625,843.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Derek Stark sold 5,255 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $89.44, for a total value of $470,007.20. Following the completion of the sale, the insider now directly owns 27,084 shares of the company’s stock, valued at approximately $2,422,392.96. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock worth $7,666,108 in the last three months. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in shares of PennyMac Financial Services during the 4th quarter worth about $25,000. Hexagon Capital Partners LLC raised its position in shares of PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of PennyMac Financial Services in the 4th quarter valued at approximately $36,000. Exchange Traded Concepts LLC acquired a new position in shares of PennyMac Financial Services in the 3rd quarter valued at approximately $57,000. Finally, TFO Wealth Partners LLC raised its position in shares of PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,141 shares in the last quarter. 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.