Brokerages Set PennyMac Financial Services, Inc. (NYSE:PFSI) PT at $122.50

PennyMac Financial Services, Inc. (NYSE:PFSI) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $122.50.

A number of equities research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered their price target 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. Wedbush restated an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Barclays raised their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th.

PennyMac Financial Services Stock Up 0.7 %

Shares of NYSE:PFSI opened at $102.14 on Thursday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The business has a 50 day simple moving average of $103.48 and a two-hundred day simple moving average of $102.71. PennyMac Financial Services has a 1 year low of $81.93 and a 1 year high of $119.13. The firm has a market capitalization of $5.24 billion, a PE ratio of 32.43 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period last year, the company earned $1.77 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. On average, equities analysts predict that PennyMac Financial Services will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 225,497 shares in the company, valued at approximately $22,554,209.94. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Doug Jones sold 600 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $102.04, for a total value of $61,224.00. Following the sale, the director now owns 23,892 shares in the company, valued at $2,437,939.68. The trade was a 2.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,844 shares of company stock valued at $15,658,591 over the last quarter. 16.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of PFSI. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services during the 3rd quarter valued at approximately $37,000. Blue Trust Inc. increased its position in shares of PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 262 shares during the period. KBC Group NV raised its stake in 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 acquiring an additional 226 shares during the last quarter. Quantbot Technologies LP lifted its position in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 290 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in PennyMac Financial Services during the 3rd quarter valued at about $203,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Financial Services

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.