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

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $122.17.

PFSI has been the topic of several recent analyst reports. Piper Sandler dropped their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Keefe, Bruyette & Woods cut their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a report on Tuesday, December 10th.

Insiders Place Their Bets

In related news, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $101.28, for a total value of $506,400.00. Following the completion of the transaction, the chief executive officer now directly owns 155,604 shares in the company, valued at approximately $15,759,573.12. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doug Jones sold 8,373 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.95, for a total value of $862,000.35. Following the sale, the director now owns 19,056 shares in the company, valued at approximately $1,961,815.20. This represents a 30.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,697 shares of company stock valued at $15,327,924 over the last ninety days. 16.60% of the stock is currently owned by insiders.

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Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. purchased a new position in PennyMac Financial Services during the 4th quarter valued at about $39,000. Sterling Capital Management LLC grew its stake in PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 343 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in PennyMac Financial Services during the fourth quarter valued at approximately $71,000. Parkside Financial Bank & Trust increased its holdings in PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock worth $112,000 after acquiring an additional 389 shares during the period. Finally, KBC Group NV lifted its stake in PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock worth $153,000 after purchasing an additional 226 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Up 2.6 %

Shares of NYSE PFSI traded up $2.48 during mid-day trading on Tuesday, reaching $97.11. 219,335 shares of the company's stock traded hands, compared to its average volume of 343,221. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services has a 1-year low of $83.03 and a 1-year high of $119.13. The stock has a market cap of $4.99 billion, a P/E ratio of 16.63, a PEG ratio of 0.19 and a beta of 1.90. The business has a 50-day simple moving average of $103.27 and a 200 day simple moving average of $105.08.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. On average, analysts expect that PennyMac Financial Services will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were paid a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.24%. PennyMac Financial Services's payout ratio is 20.55%.

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.