Analysts Set PennyMac Financial Services, Inc. (NYSE:PFSI) Target Price at $115.86

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $115.86.

A number of equities analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Piper Sandler upped their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Barclays raised their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Finally, Wedbush reiterated an "outperform" rating and set a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd.

Insider Buying and Selling

In other news, insider Steven Richard Bailey sold 14,130 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the transaction, the insider now directly owns 14,670 shares of the company's stock, valued at $1,714,629.60. The trade was a 49.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gregory L. Hendry sold 3,032 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the sale, the chief accounting officer now owns 48,040 shares in the company, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,162 shares of company stock valued at $7,491,026 over the last quarter. Corporate insiders own 16.60% of the company's stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of PFSI. FMR LLC lifted its position in PennyMac Financial Services by 231.9% during the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust's stock worth $133,003,000 after buying an additional 815,389 shares in the last quarter. State Street Corp raised its stake in shares of PennyMac Financial Services by 6.0% in the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust's stock worth $103,911,000 after acquiring an additional 51,777 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of PennyMac Financial Services by 3.1% during the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust's stock worth $73,841,000 after purchasing an additional 19,662 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PennyMac Financial Services by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust's stock valued at $50,985,000 after purchasing an additional 31,035 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings 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 valued at $32,919,000 after purchasing an additional 40,676 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.

PennyMac Financial Services Stock Performance

PFSI traded up $0.26 on Friday, hitting $107.13. The company had a trading volume of 107,146 shares, compared to its average volume of 274,304. PennyMac Financial Services has a 1-year low of $77.08 and a 1-year high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The company's fifty day moving average price is $105.96 and its 200 day moving average price is $100.75. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 34.01 and a beta of 1.79.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. PennyMac Financial Services's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 earnings per share. Equities analysts predict that PennyMac Financial Services will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services's payout ratio is 38.10%.

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.