PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $104.88 Average Price Target from Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have received an average recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $104.8750.

PFSI has been the topic of several research reports. Piper Sandler downgraded shares of PennyMac Financial Services from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $106.00 to $86.00 in a research note on Thursday, July 30th. Barclays cut their price objective on shares of PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Keefe, Bruyette & Woods decreased their target price on shares of PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. BTIG Research lowered their target price on shares of PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st.

Insider Buying and Selling

In other news, CAO Gregory Hendry sold 2,943 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $81.71, for a total transaction of $240,472.53. Following the completion of the sale, the chief accounting officer directly owned 48,968 shares in the company, valued at approximately $4,001,175.28. This represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in PennyMac Financial Services in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd raised its stake in PennyMac Financial Services by 7,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 228 shares in the last quarter. Silvant Capital Management LLC acquired a new position in PennyMac Financial Services during the second quarter worth about $34,000. Freestone Grove Partners LP bought a new position in shares of PennyMac Financial Services in the second quarter worth about $41,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of PennyMac Financial Services by 131.8% in the fourth quarter. Clearstead Advisors LLC now owns 503 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 286 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $69.05 on Friday. The stock has a 50 day simple moving average of $77.65 and a 200 day simple moving average of $83.64. The stock has a market cap of $3.59 billion, a P/E ratio of 9.48, a PEG ratio of 0.66 and a beta of 1.44. PennyMac Financial Services has a 1-year low of $68.94 and a 1-year high of $160.36. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.72). The firm had revenue of $496.96 million during the quarter, compared to analyst estimates of $571.60 million. PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.18%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 earnings per share. Research analysts anticipate that PennyMac Financial Services will post 7.36 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. PennyMac Financial Services’s dividend payout ratio is currently 16.48%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE:PFSI) is a mortgage banking company that provides a range of residential lending and loan servicing services in the United States. The company operates through its subsidiaries and focuses primarily on the production and servicing of conventional and government-insured residential mortgage loans.

PennyMac’s loan production business acquires, originates and refinances mortgage loans through correspondent, broker-direct and consumer-direct channels.