PennyMac Financial Services (NYSE:PFSI) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

PennyMac Financial Services, Inc. (NYSE:PFSI)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $103.35 and traded as high as $108.71. PennyMac Financial Services shares last traded at $107.63, with a volume of 186,653 shares.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several analyst reports. Piper Sandler upped their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Barclays upped their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods cut their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. Finally, Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned 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 $122.50.

PennyMac Financial Services Trading Up 0.9 %

The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The business’s fifty day moving average is $103.35 and its two-hundred day moving average is $103.35. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 34.17, a price-to-earnings-growth ratio of 0.18 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). The firm had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. PennyMac Financial Services’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 EPS. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 11.76 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared 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 1.11%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total value of $496,900.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $16,457,725.52. This represents a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the transaction, the chief accounting officer now directly owns 48,040 shares in the company, valued at $4,904,403.60. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,844 shares of company stock valued at $15,079,791. 16.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Several hedge funds have recently bought and sold shares of the company. Dakota Wealth Management increased its position in shares of PennyMac Financial Services by 2.6% in the 4th quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust’s stock valued at $1,489,000 after buying an additional 374 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in PennyMac Financial Services by 27.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust’s stock worth $2,779,000 after acquiring an additional 5,833 shares in the last quarter. JPMorgan Chase & Co. grew its stake in PennyMac Financial Services by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after acquiring an additional 21,751 shares during the period. Tidal Investments LLC increased its holdings in shares of PennyMac Financial Services by 115.3% in the third quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust’s stock worth $1,719,000 after acquiring an additional 8,078 shares in the last quarter. Finally, Hohimer Wealth Management LLC acquired a new stake in shares of PennyMac Financial Services during the third quarter worth about $236,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.