PennyMac Financial Services (NYSE:PFSI) Posts Earnings Results, Misses Expectations By $0.21 EPS

PennyMac Financial Services (NYSE:PFSI) announced its quarterly earnings results on Thursday. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21), Zacks reports. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%.

PennyMac Financial Services Trading Up 2.3 %

Shares of PFSI traded up $2.63 during mid-day trading on Thursday, reaching $114.73. 398,845 shares of the company were exchanged, compared to its average volume of 316,707. The business has a 50 day simple moving average of $104.45 and a two-hundred day simple moving average of $104.31. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $5.88 billion, a PE ratio of 36.42, a PEG ratio of 0.20 and a beta of 1.78. PennyMac Financial Services has a 52 week low of $83.03 and a 52 week high of $119.13.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $100.02, for a total value of $1,050,210.00. Following the transaction, the chief financial officer now directly owns 225,497 shares of the company’s stock, valued at approximately $22,554,209.94. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the sale, the chief executive officer now directly owns 180,604 shares of the company’s stock, valued at approximately $18,970,644.16. This trade represents a 5.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,844 shares of company stock worth $15,079,791 over the last ninety days. Insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PFSI shares. Barclays boosted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lowered their target price on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Piper Sandler lifted their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.50.

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.