Analysts Set PennyMac Financial Services, Inc. (NYSE:PFSI) Price Target at $115.86

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $121.00.

Several research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Piper Sandler increased their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Finally, Barclays raised their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.79, for a total transaction of $1,167,900.00. Following the completion of the sale, the chief executive officer now directly owns 200,604 shares in the company, valued at $23,428,541.16. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares in the company, valued at approximately $1,714,629.60. This represents a 49.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,162 shares of company stock worth $7,491,026 over the last three months. 16.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Maverick Capital Ltd. boosted its position in PennyMac Financial Services by 263.8% during the 2nd quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock valued at $1,221,000 after buying an additional 9,357 shares during the period. FORA Capital LLC bought a new position in shares of PennyMac Financial Services during the third quarter valued at about $616,000. American Century Companies Inc. raised its stake in shares of PennyMac Financial Services by 13.2% during the second quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock valued at $32,919,000 after acquiring an additional 40,676 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PennyMac Financial Services by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock worth $50,985,000 after purchasing an additional 31,035 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of PennyMac Financial Services in the third quarter worth about $24,644,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

PFSI stock opened at $105.89 on Friday. PennyMac Financial Services has a 12-month low of $79.11 and a 12-month high of $119.13. The firm has a market cap of $5.43 billion, a PE ratio of 33.62 and a beta of 1.78. The business has a 50 day moving average of $105.59 and a 200-day moving average of $101.01. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period last year, the firm posted $1.77 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that PennyMac Financial Services will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

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.