PennyMac Financial Services (NYSE:PFSI) Stock Rating Upgraded by StockNews.com

PennyMac Financial Services (NYSE:PFSI) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Other equities research analysts have also recently issued research reports about the company. Wedbush reiterated an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft dropped their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Barclays raised their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.75.

PennyMac Financial Services Price Performance

PFSI stock opened at $90.84 on Friday. The firm has a market cap of $4.58 billion, a P/E ratio of 31.54, a P/E/G ratio of 0.57 and a beta of 1.68. The firm’s fifty day moving average is $87.86 and its 200 day moving average is $83.86. PennyMac Financial Services has a 52 week low of $56.16 and a 52 week high of $94.78. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.37 and a current ratio of 0.39.

PennyMac Financial Services (NYSE:PFSI) last released its 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 return on equity of 10.48% and a net margin of 10.94%. The company had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. Research analysts predict that PennyMac Financial Services will post 10.55 earnings per share for the current year.

Insider Activity

In other news, insider James Follette sold 2,617 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the transaction, the insider now directly owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Derek Stark sold 5,255 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 27,084 shares of the company’s stock, valued at $2,422,392.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James Follette sold 2,617 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total transaction of $225,690.08. Following the sale, the insider now owns 7,257 shares of the company’s stock, valued at $625,843.68. The disclosure for this sale can be found here. Insiders sold 87,802 shares of company stock valued at $7,666,108 over the last three months. Insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Several hedge funds have recently bought and sold shares of PFSI. Norges Bank purchased a new stake in shares of PennyMac Financial Services in the fourth quarter worth $31,258,000. Boston Partners purchased a new stake in PennyMac Financial Services in the 4th quarter worth $28,191,000. Jacobs Levy Equity Management Inc. bought a new stake in PennyMac Financial Services during the third quarter valued at about $17,242,000. Invesco Ltd. lifted its position in shares of PennyMac Financial Services by 47.6% in the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after acquiring an additional 158,181 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of PennyMac Financial Services by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock worth $237,851,000 after acquiring an additional 70,178 shares during the period. 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.