Wedbush reissued their outperform rating on shares of PennyMac Financial Services (NYSE:PFSI - Free Report) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $130.00 price objective on the real estate investment trust's stock.
PFSI has been the topic of several other research reports. StockNews.com cut PennyMac Financial Services from a "hold" rating to a "sell" rating in a research report on Wednesday, July 3rd. Barclays boosted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods cut 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 report on Monday, July 22nd. Finally, Piper Sandler boosted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $114.33.
View Our Latest Stock Report on PFSI
PennyMac Financial Services Stock Performance
Shares of PennyMac Financial Services stock traded down $3.64 on Wednesday, hitting $100.00. The stock had a trading volume of 750,363 shares, compared to its average volume of 256,341. PennyMac Financial Services has a 52-week low of $62.15 and a 52-week high of $119.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 0.67 and a beta of 1.77. The company's 50 day moving average price is $107.66 and its 200 day moving average price is $98.09.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). The company had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.77 EPS. On average, research analysts anticipate that PennyMac Financial Services will post 11.22 EPS for the current year.
PennyMac Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services's dividend payout ratio (DPR) is 33.15%.
Insider Transactions at PennyMac Financial Services
In related news, Director Anne Mccallion sold 23,829 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the sale, the director now owns 1,854 shares of the company's stock, valued at approximately $191,221.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the transaction, the director now owns 105,446 shares of the company's stock, valued at $10,325,272.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Anne Mccallion sold 23,829 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the sale, the director now owns 1,854 shares of the company's stock, valued at approximately $191,221.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,855 shares of company stock valued at $9,647,599 in the last quarter. 16.60% of the stock is currently owned by corporate insiders.
Institutional Trading of PennyMac Financial Services
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in PennyMac Financial Services by 1,529.6% in the 2nd 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 in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 109 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services during the first quarter worth about $202,000. Cannon Global Investment Management LLC bought a new position in shares of PennyMac Financial Services during the second quarter worth about $255,000. Finally, Seven Eight Capital LP bought a new position in PennyMac Financial Services in the second quarter worth about $268,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.
About PennyMac Financial Services
(
Get Free Report)
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.
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