PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $122.17 Average Price Target from Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $122.17.

PFSI has been the topic of several research reports. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods decreased their price target 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.

PennyMac Financial Services Price Performance

PFSI stock opened at $98.09 on Tuesday. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. PennyMac Financial Services has a 12 month low of $83.03 and a 12 month high of $119.13. The firm has a market cap of $5.04 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.19 and a beta of 1.90. The company’s 50-day moving average price is $103.06 and its two-hundred day moving average price is $104.94.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, analysts anticipate that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.22%. PennyMac Financial Services’s dividend payout ratio is presently 20.55%.

Insider Buying and Selling

In other news, CEO David Spector sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total value of $496,900.00. Following the transaction, the chief executive officer now owns 165,604 shares in the company, valued at approximately $16,457,725.52. The trade was a 2.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Doug Jones sold 8,373 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $102.95, for a total transaction of $862,000.35. Following the completion of the transaction, the director now owns 19,056 shares in the company, valued at $1,961,815.20. This trade represents a 30.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,697 shares of company stock worth $15,327,924 in the last ninety days. Company insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. acquired a new position in shares of PennyMac Financial Services in the 4th quarter worth approximately $39,000. Sterling Capital Management LLC lifted its position in shares of PennyMac Financial Services by 601.8% in the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 343 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of PennyMac Financial Services in the 4th quarter worth approximately $71,000. Parkside Financial Bank & Trust lifted its position in shares of PennyMac Financial Services by 54.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 389 shares during the period. Finally, KBC Group NV lifted its position in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares during the period. 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.