PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $121.17 Average PT from Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $121.17.

PFSI has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Tuesday, April 8th. Finally, UBS Group lowered their target price on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th.

Insider Transactions at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $101.49, for a total value of $1,065,645.00. Following the transaction, the chief financial officer now directly owns 214,997 shares of the company’s stock, valued at $21,820,045.53. The trade was a 4.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Elbaum sold 410 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the sale, the insider now directly owns 4,207 shares of the company’s stock, valued at $432,816.16. This represents a 8.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,464 shares of company stock worth $4,540,867. Company insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CWM LLC increased its stake in PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 113 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in PennyMac Financial Services in the 4th quarter valued at about $39,000. Sterling Capital Management LLC increased its position in 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 valued at $41,000 after buying an additional 343 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in PennyMac Financial Services during the 4th quarter worth approximately $71,000. Finally, Parkside Financial Bank & Trust boosted its holdings in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 389 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Up 1.1 %

NYSE PFSI opened at $98.08 on Wednesday. The business has a fifty day moving average price of $98.23 and a two-hundred day moving average price of $101.94. The stock has a market capitalization of $5.04 billion, a PE ratio of 16.79, a PEG ratio of 0.19 and a beta of 1.73. PennyMac Financial Services has a fifty-two week low of $85.74 and a fifty-two week high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. The business had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. Equities analysts expect that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.22%. PennyMac Financial Services’s payout ratio is 18.40%.

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.