Keefe, Bruyette & Woods Cuts PennyMac Financial Services (NYSE:PFSI) Price Target to $100.00

PennyMac Financial Services (NYSE:PFSI) had its price target cut by equities researchers at Keefe, Bruyette & Woods from $105.00 to $100.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 15.42% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Wedbush restated an “outperform” rating and set a $110.00 target price on shares of PennyMac Financial Services in a report on Thursday. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays raised their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.75.

PennyMac Financial Services Stock Performance

PFSI traded up $0.44 on Friday, hitting $86.64. The company’s stock had a trading volume of 33,949 shares, compared to its average volume of 238,394. The company’s 50 day simple moving average is $87.95 and its 200-day simple moving average is $82.89. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90. PennyMac Financial Services has a 12 month low of $56.16 and a 12 month high of $94.78. The firm has a market cap of $4.37 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.51%. The firm had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. Analysts forecast that PennyMac Financial Services will post 10.41 EPS for the current year.

Insider Activity

In other news, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the sale, the chief executive officer now directly owns 270,604 shares of the company’s stock, valued at $23,591,256.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the sale, the chief executive officer now directly owns 270,604 shares of the company’s stock, valued at $23,591,256.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at $22,823,884.50. The disclosure for this sale can be found here. Insiders have sold 87,802 shares of company stock worth $7,666,108 over the last ninety days. Corporate insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. USA Financial Formulas purchased a new position in shares of PennyMac Financial Services during the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC boosted its position in shares of PennyMac Financial Services by 128.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust purchased a new position in shares of PennyMac Financial Services during the fourth quarter valued at approximately $36,000. Exchange Traded Concepts LLC purchased a new position in shares of PennyMac Financial Services during the third quarter valued at approximately $57,000. Finally, TFO Wealth Partners LLC boosted its position in shares of PennyMac Financial Services by 16,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,141 shares during the period. Hedge funds and other 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.