PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $107.17 Consensus Price Target from Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $107.17.

Several research firms have weighed in on PFSI. Piper Sandler boosted their target price on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a report on Monday, July 22nd. Finally, Wedbush upped their price objective on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th.

Insider Transactions at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total transaction of $920,600.00. Following the sale, the chief executive officer now directly owns 220,604 shares of the company’s stock, valued at approximately $20,308,804.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Joseph F. Mazzella sold 11,396 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the sale, the director now directly owns 105,446 shares of the company’s stock, valued at approximately $10,325,272.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total transaction of $920,600.00. Following the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at $20,308,804.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,355 shares of company stock worth $8,306,734. 16.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in shares of PennyMac Financial Services in the 4th quarter valued at approximately $967,000. UBS Group AG increased its position in shares of PennyMac Financial Services by 40.6% in the 4th quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 23,696 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of PennyMac Financial Services by 165.0% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 24,753 shares of the real estate investment trust’s stock valued at $2,187,000 after purchasing an additional 15,412 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PennyMac Financial Services in the 4th quarter valued at approximately $1,019,000. Finally, Denali Advisors LLC increased its position in shares of PennyMac Financial Services by 179.2% in the 1st quarter. Denali Advisors LLC now owns 41,600 shares of the real estate investment trust’s stock valued at $3,789,000 after purchasing an additional 26,700 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Performance

PFSI opened at $111.80 on Tuesday. The firm has a market capitalization of $5.69 billion, a PE ratio of 38.82, a PEG ratio of 0.75 and a beta of 1.77. PennyMac Financial Services has a twelve month low of $62.15 and a twelve month high of $119.13. The firm’s 50-day moving average price is $102.81 and its 200 day moving average price is $94.77. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.80). The firm had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 earnings per share. As a group, sell-side analysts expect that PennyMac Financial Services will post 10.61 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were issued a $0.30 dividend. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio is currently 41.67%.

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.