PennyMac Financial Services (NYSE:PFSI) Hits New 52-Week High at $106.52

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $106.52 and last traded at $105.11, with a volume of 6074 shares traded. The stock had previously closed at $105.25.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PFSI shares. Wedbush lifted their price target on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. StockNews.com downgraded shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 target price on the stock. in a research note on Monday, July 22nd. Finally, Piper Sandler increased their target price on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an "overweight" rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, PennyMac Financial Services presently has a consensus rating of "Hold" and an average target price of $107.17.

PennyMac Financial Services Stock Up 2.6 %

The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The business has a 50 day simple moving average of $97.40 and a 200-day simple moving average of $92.10. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 0.63 and a beta of 1.72.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.80). The firm had revenue of $406.13 million for the quarter, compared to analyst estimates of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. PennyMac Financial Services's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.11 earnings per share. On average, equities analysts expect that PennyMac Financial Services, Inc. will post 10.54 EPS for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 13th. This is a boost from PennyMac Financial Services's previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 1.11%. PennyMac Financial Services's dividend payout ratio is currently 41.67%.

Insider Buying and Selling

In related news, CEO David Spector sold 10,000 shares of the firm's stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total transaction of $920,600.00. Following the completion of the sale, the chief executive officer now directly owns 220,604 shares of the company's stock, valued at approximately $20,308,804.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total transaction of $920,600.00. Following the completion of the transaction, the chief executive officer now owns 220,604 shares of the company's stock, valued at approximately $20,308,804.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne Mccallion sold 23,829 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $103.14, for a total value of $2,457,723.06. Following the completion of the sale, the director now directly owns 1,854 shares in the company, valued at approximately $191,221.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,225 shares of company stock worth $6,392,919. Company insiders own 16.60% of the company's stock.

Hedge Funds Weigh In On PennyMac Financial Services

Several institutional investors have recently bought and sold shares of PFSI. USA Financial Formulas acquired a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC grew its stake in shares of PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 205 shares in the last quarter. Blue Trust Inc. increased its position in shares of PennyMac Financial Services by 1,529.6% during the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 413 shares during the period. TFO Wealth Partners LLC raised its stake in shares of 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 in the last quarter. Finally, SG Americas Securities LLC purchased a new position in PennyMac Financial Services in the first quarter valued at $202,000. 57.87% of the stock is owned by institutional investors and hedge funds.

PennyMac Financial Services Company Profile

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.