Analysts Set PennyMac Financial Services, Inc. (NYSE:PFSI) Target Price at $122.17

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $122.17.

PFSI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Piper Sandler dropped their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st.

Insider Buying and Selling at PennyMac Financial Services

In related news, insider James Follette sold 1,983 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total value of $198,161.19. Following the sale, the insider now directly owns 10,497 shares of the company’s stock, valued at $1,048,965.21. This trade represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Spector sold 5,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $16,457,725.52. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,464 shares of company stock valued at $5,037,767 in the last three months. Company insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. State Street Corp increased its stake in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after purchasing an additional 51,777 shares in the last quarter. JPMorgan Chase & Co. increased its position in PennyMac Financial Services by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after buying an additional 21,751 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in PennyMac Financial Services by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock valued at $46,352,000 after buying an additional 6,459 shares during the last quarter. XTX Topco Ltd bought a new stake in PennyMac Financial Services in the third quarter worth $614,000. Finally, HighTower Advisors LLC purchased a new stake in shares of PennyMac Financial Services in the third quarter worth $702,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Down 7.7 %

Shares of PennyMac Financial Services stock opened at $95.75 on Friday. PennyMac Financial Services has a 52-week low of $83.03 and a 52-week high of $119.13. The business’s 50 day simple moving average is $101.97 and its 200 day simple moving average is $103.96. The firm has a market cap of $4.92 billion, a PE ratio of 16.40, a P/E/G ratio of 0.19 and a beta of 1.73. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26.

PennyMac Financial Services (NYSE:PFSI) last announced 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 return on equity of 16.61% and a net margin of 19.54%. On average, analysts predict that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio is presently 20.55%.

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.