PennyMac Financial Services (NYSE:PFSI) Price Target Lowered to $112.00 at Deutsche Bank Aktiengesellschaft

PennyMac Financial Services (NYSE:PFSI) had its target price cut by Deutsche Bank Aktiengesellschaft from $115.00 to $112.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on PFSI. Keefe, Bruyette & Woods raised PennyMac Financial Services from a market perform rating to an outperform rating and upped their price target for the company from $100.00 to $105.00 in a research report on Tuesday, April 9th. StockNews.com raised PennyMac Financial Services from a sell rating to a hold rating in a research report on Thursday, April 11th. Wedbush reaffirmed an outperform rating and issued a $110.00 target price on shares of PennyMac Financial Services in a research report on Thursday. Finally, Barclays increased their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, PennyMac Financial Services currently has a consensus rating of Moderate Buy and an average price target of $98.38.

PennyMac Financial Services Trading Down 1.0 %

NYSE PFSI opened at $85.37 on Thursday. The company has a 50-day moving average of $87.95 and a 200-day moving average of $82.89. The company has a market cap of $4.31 billion, a P/E ratio of 29.93, a P/E/G ratio of 0.61 and a beta of 1.67. PennyMac Financial Services has a 12 month low of $56.16 and a 12 month high of $94.78. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. The firm had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. As a group, equities analysts predict that PennyMac Financial Services will post 10.41 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Monday, May 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 27.78%.

Insiders Place Their Bets

In related news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the sale, the insider now directly owns 7,257 shares in the company, valued at $625,843.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the transaction, the insider now directly owns 7,257 shares of the company’s stock, valued at $625,843.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the sale, the chief executive officer now directly owns 250,604 shares in the company, valued at approximately $22,734,794.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,802 shares of company stock valued at $7,666,108. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors have recently bought and sold shares of PFSI. USA Financial Formulas bought a new position in shares of PennyMac Financial Services in the 4th quarter valued at about $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth about $36,000. Exchange Traded Concepts LLC bought a new stake in shares of PennyMac Financial Services during the 3rd quarter worth about $57,000. Finally, TFO Wealth Partners LLC raised its stake in PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

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.