PennyMac Financial Services (NYSE:PFSI) Stock Rating Reaffirmed by Wedbush

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.

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

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.