PennyMac Financial Services, Inc. (NYSE:PFSI) Given Average Rating of "Moderate Buy" by Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $107.17.

A number of equities analysts have recently issued reports on PFSI shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Piper Sandler raised their price objective on PennyMac Financial Services from $110.00 to $112.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 price objective for the company. in a report on Monday, July 22nd. 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 report on Wednesday, July 24th. Finally, StockNews.com lowered shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a research note on Wednesday, July 3rd.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the company's stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total value of $920,600.00. Following the completion of the sale, the chief executive officer now owns 220,604 shares in the company, valued at approximately $20,308,804.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO David Spector sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the transaction, the chief executive officer now owns 220,604 shares in the company, valued at approximately $20,308,804.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph F. Mazzella sold 11,396 shares of the company's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total value of $1,115,896.32. Following the completion of the transaction, the director now directly owns 105,446 shares of the company's stock, valued at $10,325,272.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,396 shares of company stock worth $3,935,196. Corporate insiders own 16.60% of the company's stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in PennyMac Financial Services by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust's stock worth $237,851,000 after buying an additional 70,178 shares during the last quarter. Vanguard Group Inc. raised its stake in PennyMac Financial Services by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust's stock valued at $238,509,000 after acquiring an additional 8,345 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in PennyMac Financial Services by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust's stock valued at $35,060,000 after purchasing an additional 3,947 shares during the last quarter. Norges Bank bought a new position in PennyMac Financial Services during the fourth quarter worth about $31,258,000. Finally, American Century Companies Inc. increased its stake in shares of PennyMac Financial Services by 13.2% in the second quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust's stock worth $32,919,000 after purchasing an additional 40,676 shares in the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Trading Up 2.9 %

Shares of PFSI stock traded up $2.88 during mid-day trading on Friday, hitting $102.39. The company's stock had a trading volume of 209,956 shares, compared to its average volume of 246,133. The company has a market cap of $5.24 billion, a PE ratio of 34.55, a P/E/G ratio of 0.63 and a beta of 1.72. 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 company's fifty day simple moving average is $96.28 and its 200-day simple moving average is $91.64. PennyMac Financial Services has a 52 week low of $62.15 and a 52 week high of $105.94.

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 for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company had revenue of $406.13 million during the quarter, compared to the consensus estimate of $469.64 million. During the same quarter in the prior year, the firm earned $1.11 EPS. The business's revenue was up 20.7% compared to the same quarter last year. As a group, equities research analysts expect that PennyMac Financial Services will post 10.54 earnings per share for the current fiscal year.

PennyMac Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Tuesday, August 13th will be given a $0.30 dividend. This is a positive change 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 1.17%. The ex-dividend date is Tuesday, August 13th. PennyMac Financial Services's dividend payout ratio is presently 41.67%.

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.