PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $75.00.
A number of brokerages have recently weighed in on PFSI. Credit Suisse Group cut their price objective on PennyMac Financial Services to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, May 19th. Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $82.00 to $79.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 28th. StockNews.com raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, May 19th. JMP Securities cut their target price on shares of PennyMac Financial Services from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Finally, Barclays decreased their price target on shares of PennyMac Financial Services from $103.00 to $90.00 in a research note on Monday, May 9th.
NYSE:PFSI opened at $47.26 on Friday. The firm has a market capitalization of $2.62 billion, a P/E ratio of 3.79 and a beta of 1.23. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average of $46.43 and a 200 day moving average of $54.30. PennyMac Financial Services has a 52 week low of $38.53 and a 52 week high of $71.52.
PennyMac Financial Services (NYSE:PFSI – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $2.94 EPS for the quarter, beating the consensus estimate of $2.89 by $0.05. The firm had revenue of $657.50 million during the quarter, compared to the consensus estimate of $622.14 million. PennyMac Financial Services had a net margin of 27.78% and a return on equity of 25.12%. The company’s quarterly revenue was down 30.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.15 earnings per share. As a group, analysts anticipate that PennyMac Financial Services will post 6.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 27th. Investors of record on Tuesday, May 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 16th. This represents a $0.80 annualized dividend and a dividend yield of 1.69%. PennyMac Financial Services’s payout ratio is 6.42%.
In related news, Director Joseph F. Mazzella sold 13,000 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $50.12, for a total value of $651,560.00. Following the transaction, the director now owns 351,331 shares in the company, valued at approximately $17,608,709.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CIO Vandad Fartaj sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $45.16, for a total transaction of $112,900.00. Following the sale, the executive now owns 108,634 shares of the company’s stock, valued at $4,905,911.44. The disclosure for this sale can be found here. Insiders own 18.00% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of PFSI. UBS Asset Management Americas Inc. raised its position in PennyMac Financial Services by 6.1% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 69,870 shares of the real estate investment trust’s stock worth $4,271,000 after buying an additional 4,030 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of PennyMac Financial Services by 18.2% during the fourth quarter. IFP Advisors Inc now owns 2,840 shares of the real estate investment trust’s stock valued at $200,000 after purchasing an additional 438 shares during the last quarter. Sciencast Management LP bought a new position in PennyMac Financial Services during the fourth quarter valued at approximately $1,042,000. Allspring Global Investments Holdings LLC purchased a new stake in PennyMac Financial Services in the fourth quarter worth approximately $949,000. Finally, One Capital Management LLC bought a new stake in PennyMac Financial Services in the 4th quarter worth approximately $445,000. Institutional investors and hedge funds own 62.61% of the company’s stock.
PennyMac Financial Services Company Profile (Get Rating)
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: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.
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