PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Rating of “Moderate Buy” by Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $121.00.

PFSI has been the subject of several research reports. Wells Fargo & Company increased their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Barclays lifted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler upped their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd.

Insider Transactions at PennyMac Financial Services

In other news, CAO Gregory L. Hendry sold 3,032 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the completion of the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at $4,904,403.60. This represents a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $112.93, for a total value of $1,185,765.00. Following the transaction, the chief financial officer now owns 235,997 shares in the company, valued at $26,651,141.21. This trade represents a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,162 shares of company stock worth $7,491,026 over the last three months. 16.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PFSI. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services in the 3rd quarter worth approximately $37,000. Blue Trust Inc. increased its stake in shares of PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of PennyMac Financial Services by 29.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 109 shares during the period. KBC Group NV lifted its stake in shares of PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 226 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares during the period. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Up 0.2 %

Shares of NYSE:PFSI opened at $105.89 on Friday. The firm has a market capitalization of $5.43 billion, a P/E ratio of 33.62 and a beta of 1.78. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a 50 day moving average price of $105.59 and a 200-day moving average price of $101.01. PennyMac Financial Services has a 52-week low of $79.11 and a 52-week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 15.13% and a net margin of 11.45%. PennyMac Financial Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.77 EPS. As a group, equities research analysts anticipate that PennyMac Financial Services will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s payout ratio is presently 38.10%.

About PennyMac Financial Services

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.