PennyMac Financial Services (NYSE:PFSI) Downgraded by StockNews.com

StockNews.com downgraded shares of PennyMac Financial Services (NYSE:PFSIFree Report) from a hold rating to a sell rating in a report released on Tuesday.

A number of other brokerages also recently commented on PFSI. Barclays increased their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reduced their price objective on shares of PennyMac Financial Services from $105.00 to $100.00 and set an outperform rating for the company in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a buy rating for the company in a report on Thursday, April 25th. Finally, Wedbush reaffirmed an outperform rating and set a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, PennyMac Financial Services currently has an average rating of Moderate Buy and a consensus price target of $97.75.

Get Our Latest Stock Report on PFSI

PennyMac Financial Services Stock Down 0.1 %

Shares of NYSE PFSI opened at $93.90 on Tuesday. The company has a market cap of $4.78 billion, a P/E ratio of 32.60, a PEG ratio of 0.61 and a beta of 1.68. The firm has a 50-day simple moving average of $89.56 and a two-hundred day simple moving average of $86.22. PennyMac Financial Services has a 1 year low of $58.65 and a 1 year high of $94.80. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.39 and a quick ratio of 0.39.

PennyMac Financial Services (NYSE:PFSIGet Free Report) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. The company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. Research analysts anticipate that PennyMac Financial Services will post 10.55 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 0.85%. PennyMac Financial Services’s dividend payout ratio is currently 27.78%.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total transaction of $931,600.00. Following the completion of the transaction, the chief executive officer now owns 240,604 shares of the company’s stock, valued at approximately $22,414,668.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO David Spector sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total transaction of $931,600.00. Following the sale, the chief executive officer now directly owns 240,604 shares of the company’s stock, valued at approximately $22,414,668.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $92.00, for a total value of $1,048,800.00. Following the sale, the chief financial officer now directly owns 246,497 shares in the company, valued at $22,677,724. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,267 shares of company stock worth $8,823,777. 16.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PennyMac Financial Services

A number of large investors have recently modified their holdings of PFSI. Jacobs Levy Equity Management Inc. raised its holdings in shares of PennyMac Financial Services by 0.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 139,882 shares of the real estate investment trust’s stock valued at $12,742,000 after acquiring an additional 1,190 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in PennyMac Financial Services during the 1st quarter valued at approximately $1,785,000. CANADA LIFE ASSURANCE Co increased its position in PennyMac Financial Services by 3.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 23,433 shares of the real estate investment trust’s stock valued at $2,134,000 after buying an additional 689 shares in the last quarter. Cynosure Group LLC acquired a new position in PennyMac Financial Services during the 1st quarter valued at about $323,000. Finally, Edgestream Partners L.P. raised its holdings in PennyMac Financial Services by 349.5% in the 1st quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust’s stock worth $2,166,000 after purchasing an additional 18,485 shares during the period. 57.87% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Financial Services

(Get Free Report)

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.

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