PennyMac Financial Services (NYSE:PFSI) Price Target Cut to $112.00

PennyMac Financial Services (NYSE:PFSI) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $115.00 to $112.00 in a research report released on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the real estate investment trust’s stock.

PFSI has been the subject of several other research reports. Wedbush restated an outperform rating and issued a $110.00 price target on shares of PennyMac Financial Services in a research note on Thursday. StockNews.com upgraded PennyMac Financial Services from a sell rating to a hold rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a market perform rating to an outperform rating and lifted their price target for the company from $100.00 to $105.00 in a research note on Tuesday, April 9th. Finally, Barclays lifted their price target 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. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $97.75.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $87.00 on Thursday. The stock has a 50-day simple moving average of $87.83 and a two-hundred day simple moving average of $83.15. The firm has a market capitalization of $4.39 billion, a P/E ratio of 30.21, a PEG ratio of 0.56 and a beta of 1.67. PennyMac Financial Services has a fifty-two week low of $56.16 and a fifty-two week high of $94.78. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. The business 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 10.51% and a net margin of 10.94%. On average, equities analysts forecast that PennyMac Financial Services will post 10.58 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 0.92%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 27.78%.

Insiders Place Their Bets

In other PennyMac Financial Services news, CEO David Spector sold 26,451 shares of the business’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 transaction of $2,276,108.55. Following the completion of the sale, the chief executive officer now directly owns 647,938 shares in the company, valued at approximately $55,755,064.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Doug Jones sold 17,079 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $86.10, for a total transaction of $1,470,501.90. Following the transaction, the director now directly owns 23,892 shares in the company, valued at approximately $2,057,101.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Spector sold 26,451 shares of the business’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 $55,755,064.90. The disclosure for this sale can be found here. In the last three months, insiders sold 87,802 shares of company stock worth $7,666,108. Corporate insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. USA Financial Formulas acquired a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $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 purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $36,000. Exchange Traded Concepts LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $57,000. Finally, TFO Wealth Partners LLC lifted its holdings in PennyMac Financial Services by 16,300.0% in 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 acquiring an additional 1,141 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.