PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $122.50 Average PT from Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $122.50.

Several research firms recently issued reports on PFSI. Piper Sandler upped their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods dropped their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Barclays lifted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company boosted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd.

PennyMac Financial Services Price Performance

Shares of PFSI stock opened at $101.38 on Thursday. The firm has a fifty day moving average of $103.54 and a two-hundred day moving average of $102.58. The firm has a market cap of $5.20 billion, a P/E ratio of 32.18 and a beta of 1.78. PennyMac Financial Services has a 1-year low of $81.93 and a 1-year high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. During the same quarter last year, the business posted $1.77 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that PennyMac Financial Services will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the sale, the chief financial officer now directly owns 225,497 shares in the company, valued at $22,554,209.94. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Spector sold 10,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $107.57, for a total transaction of $1,075,700.00. Following the completion of the transaction, the chief executive officer now owns 190,604 shares of the company’s stock, valued at $20,503,272.28. This represents a 4.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,844 shares of company stock worth $15,658,591. 16.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. bought a new position in PennyMac Financial Services during the 3rd quarter valued at $37,000. Blue Trust Inc. grew its holdings in PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 262 shares during the period. KBC Group NV raised its position in PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 226 shares in the last quarter. Quantbot Technologies LP lifted its holdings in PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of PennyMac Financial Services during the 3rd quarter valued at about $203,000. Institutional investors 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.