JMP Securities upgraded shares of PennyMac Financial Services (NYSE:PFSI) from a market perform rating to an outperform rating in a report released on Monday, BenzingaRatingsTable reports. The firm currently has $25.00 price objective on the real estate investment trust’s stock.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded PennyMac Financial Services from a hold rating to a strong-buy rating and set a $39.00 price objective for the company in a report on Wednesday, February 5th. ValuEngine downgraded PennyMac Financial Services from a sell rating to a strong sell rating in a report on Thursday, December 26th. Wedbush increased their price objective on PennyMac Financial Services from $34.00 to $40.00 and gave the stock an outperform rating in a report on Monday, February 10th. Finally, Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a market perform rating to an outperform rating and set a $40.00 price objective for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $36.13.
PFSI opened at $25.79 on Monday. The stock has a fifty day simple moving average of $32.15 and a two-hundred day simple moving average of $32.49. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 2.31. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 5.27 and a beta of 0.39. PennyMac Financial Services has a 12-month low of $13.14 and a 12-month high of $39.57.
PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.31. The business had revenue of $490.38 million during the quarter, compared to the consensus estimate of $454.75 million. PennyMac Financial Services had a return on equity of 21.09% and a net margin of 26.60%. On average, analysts predict that PennyMac Financial Services will post 8.19 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Friday, February 14th were paid a $0.12 dividend. The ex-dividend date was Thursday, February 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.86%. PennyMac Financial Services’s dividend payout ratio is currently 9.82%.
In related news, CFO Andrew S. Chang bought 35,841 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were purchased at an average cost of $16.60 per share, with a total value of $594,960.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick Kinsella bought 5,800 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $17.93 per share, for a total transaction of $103,994.00. The disclosure for this purchase can be found here. Over the last three months, insiders sold 116,227 shares of company stock worth $4,168,354. Insiders own 22.17% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of PennyMac Financial Services by 9.2% during the third quarter. State Street Corp now owns 565,255 shares of the real estate investment trust’s stock valued at $17,172,000 after buying an additional 47,473 shares during the last quarter. California Public Employees Retirement System boosted its position in shares of PennyMac Financial Services by 16.9% during the third quarter. California Public Employees Retirement System now owns 12,901 shares of the real estate investment trust’s stock valued at $392,000 after buying an additional 1,863 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at $426,000. Charles Schwab Investment Management Inc. boosted its position in shares of PennyMac Financial Services by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 220,367 shares of the real estate investment trust’s stock valued at $7,502,000 after buying an additional 4,272 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in shares of PennyMac Financial Services by 49.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 8,511 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 2,832 shares during the last quarter. 52.72% of the stock is currently owned by institutional investors.
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. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.
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