PennyMac Financial Services (NYSE:PFSI) Raised to Outperform at Keefe, Bruyette & Woods

PennyMac Financial Services (NYSE:PFSI) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Tuesday, MarketBeat reports. The firm currently has a $114.00 price target on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 20.58% from the company’s previous close.

Separately, Piper Sandler decreased their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $122.67.

PennyMac Financial Services Trading Up 2.3 %

NYSE PFSI opened at $94.54 on Tuesday. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The business has a fifty day simple moving average of $100.56 and a 200 day simple moving average of $103.55. PennyMac Financial Services has a 12 month low of $83.03 and a 12 month high of $119.13. The firm has a market capitalization of $4.86 billion, a P/E ratio of 16.19, a PEG ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates 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 predict that PennyMac Financial Services will post 13.77 EPS for the current fiscal year.

Insider Buying and Selling at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the sale, the chief financial officer now directly owns 214,997 shares in the company, valued at approximately $21,820,045.53. This represents a 4.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Abbie Tidmore sold 2,669 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $102.55, for a total transaction of $273,705.95. Following the completion of the transaction, the executive now directly owns 4,878 shares of the company’s stock, valued at approximately $500,238.90. This trade represents a 35.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,464 shares of company stock worth $4,540,867 over the last ninety days. 16.60% of the stock is currently owned by company insiders.

Institutional Trading of PennyMac Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of PennyMac Financial Services during the fourth quarter valued at about $38,004,000. Millennium Management LLC grew its stake in PennyMac Financial Services by 104.5% during the fourth quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust’s stock valued at $52,967,000 after acquiring an additional 264,956 shares in the last quarter. Vanguard Group Inc. increased its holdings in PennyMac Financial Services by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock worth $294,835,000 after acquiring an additional 199,667 shares during the period. Boston Partners lifted its stake in PennyMac Financial Services by 50.1% in the 4th quarter. Boston Partners now owns 497,080 shares of the real estate investment trust’s stock worth $51,313,000 after purchasing an additional 165,997 shares in the last quarter. Finally, FMR LLC boosted its holdings in PennyMac Financial Services by 11.9% in the 4th quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock valued at $133,380,000 after purchasing an additional 138,853 shares during the period. 57.87% of the stock is currently owned by institutional investors.

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.