PennyMac Financial Services (NYSE:PFSI) Downgraded by StockNews.com

StockNews.com cut shares of PennyMac Financial Services (NYSE:PFSI) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

Other analysts have also issued reports about the stock. Wedbush restated an outperform rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an outperform rating on the stock in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PennyMac Financial Services from $115.00 to $112.00 and set a buy rating for the company in a research report on Thursday, April 25th. Finally, Barclays boosted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $97.75.

PennyMac Financial Services Stock Up 1.3 %

NYSE PFSI opened at $91.29 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services has a 52 week low of $58.65 and a 52 week high of $94.80. The business’s fifty day simple moving average is $89.88 and its 200-day simple moving average is $86.41. The firm has a market cap of $4.65 billion, a PE ratio of 31.70, a P/E/G ratio of 0.59 and a beta of 1.68.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.14. The company had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. As a group, equities analysts anticipate that PennyMac Financial Services will post 10.55 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 0.88%. PennyMac Financial Services’s dividend payout ratio (DPR) is 27.78%.

Insider Transactions at PennyMac Financial Services

In other news, CEO David Spector sold 26,451 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $86.05, for a total value of $2,276,108.55. Following the sale, the chief executive officer now directly owns 647,938 shares in the company, valued at approximately $55,755,064.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Doug Jones sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $91.49, for a total value of $2,744,700.00. Following the completion of the sale, the director now directly owns 480,000 shares of the company’s stock, valued at $43,915,200. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David Spector sold 26,451 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $86.05, for a total value of $2,276,108.55. Following the transaction, the chief executive officer now owns 647,938 shares in the company, valued at approximately $55,755,064.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,267 shares of company stock valued at $11,568,477. 16.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in PennyMac Financial Services in the 4th quarter valued at $31,258,000. Boston Partners acquired a new position in shares of PennyMac Financial Services during the fourth quarter worth about $28,191,000. Jacobs Levy Equity Management Inc. purchased a new position in PennyMac Financial Services during the third quarter worth about $17,242,000. Invesco Ltd. lifted its position in PennyMac Financial Services by 47.6% in the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after purchasing an additional 158,181 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in PennyMac Financial Services by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock valued at $237,851,000 after purchasing an additional 70,178 shares in the last quarter. 57.87% of the stock is owned by hedge funds and other 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. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.