PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Average Recommendation of "Moderate Buy" from Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the firm, 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 target price among brokerages that have updated their coverage on the stock in the last year is $111.50.

Several equities analysts recently weighed in on the company. Wedbush raised their price objective on PennyMac Financial Services from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Barclays lifted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday. StockNews.com cut shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a research note on Wednesday, July 3rd. Piper Sandler lifted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 1st. Finally, Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 price target on the stock. in a research report on Monday, July 22nd.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of the firm's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value of $1,115,896.32. Following the sale, the director now directly owns 105,446 shares of the company's stock, valued at approximately $10,325,272.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of PennyMac Financial Services stock in a transaction 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 transaction, the director now owns 105,446 shares in the company, valued at $10,325,272.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Spector sold 10,000 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00. Following the sale, the chief executive officer now directly owns 210,604 shares of the company's stock, valued at $20,915,083.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,855 shares of company stock worth $8,571,899. Insiders own 16.60% of the company's stock.

Institutional Trading of PennyMac Financial Services

A number of institutional investors have recently modified their holdings of PFSI. Blue Trust Inc. raised its position in PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 413 shares during the period. Hexagon Capital Partners LLC grew its position in PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 109 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of PennyMac Financial Services during the first quarter worth $202,000. Virtu Financial LLC purchased a new position in shares of PennyMac Financial Services in the fourth quarter valued at $253,000. Finally, Cannon Global Investment Management LLC acquired a new stake in PennyMac Financial Services during the 2nd quarter valued at $255,000. Hedge funds and other institutional investors own 57.87% of the company's stock.

PennyMac Financial Services Price Performance

NYSE:PFSI traded up $0.09 during trading hours on Friday, hitting $106.27. The company's stock had a trading volume of 281,591 shares, compared to its average volume of 254,529. PennyMac Financial Services has a 52-week low of $62.15 and a 52-week high of $119.13. 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's 50-day moving average is $105.93 and its two-hundred day moving average is $97.07. The company has a market capitalization of $5.41 billion, a PE ratio of 36.87, a PEG ratio of 0.66 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS 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 analyst estimates of $469.64 million. During the same quarter last year, the business earned $1.11 EPS. The firm's revenue for the quarter was up 20.7% on a year-over-year basis. As a group, research analysts anticipate that PennyMac Financial Services will post 11.06 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a $0.30 dividend. This is a boost from PennyMac Financial Services's previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 1.13%. The ex-dividend date was Tuesday, August 13th. PennyMac Financial Services's 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.