PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $97.75.

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their price objective on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Wedbush reissued an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lowered their price target on 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 lifted their price target 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.

PennyMac Financial Services Stock Down 1.4 %

PennyMac Financial Services stock opened at $91.44 on Friday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 0.60 and a beta of 1.70. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $94.80. The business has a fifty day moving average price of $90.29 and a 200-day moving average price of $88.01.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data 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 10.48% and a net margin of 10.94%. Equities research analysts forecast that PennyMac Financial Services will post 10.55 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.87%. PennyMac Financial Services’s payout ratio is currently 27.78%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, insider Derek Stark sold 5,255 shares of PennyMac Financial Services stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $89.44, for a total transaction of $470,007.20. Following the completion of the transaction, the insider now owns 27,084 shares in the company, valued at approximately $2,422,392.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Derek Stark sold 5,255 shares of PennyMac Financial Services stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $89.44, for a total value of $470,007.20. Following the completion of the transaction, the insider now owns 27,084 shares in the company, valued at approximately $2,422,392.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Doug Jones sold 30,000 shares of PennyMac Financial Services stock in a transaction dated 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 transaction, the director now owns 480,000 shares of the company’s stock, valued at approximately $43,915,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,120 shares of company stock worth $8,501,777. Insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of PFSI. Swiss National Bank increased its stake in shares of PennyMac Financial Services by 0.8% in the 3rd quarter. Swiss National Bank now owns 93,200 shares of the real estate investment trust’s stock valued at $6,207,000 after purchasing an additional 700 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PennyMac Financial Services by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 392,798 shares of the real estate investment trust’s stock worth $26,160,000 after purchasing an additional 6,855 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $622,000. Deutsche Bank AG boosted its holdings in shares of PennyMac Financial Services by 13.4% during the 3rd quarter. Deutsche Bank AG now owns 13,409 shares of the real estate investment trust’s stock worth $893,000 after purchasing an additional 1,587 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $2,041,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.