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

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $122.50.

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

PennyMac Financial Services Trading Up 0.9 %

NYSE:PFSI traded up $0.98 during mid-day trading on Monday, reaching $107.63. The company's stock had a trading volume of 186,653 shares, compared to its average volume of 245,022. The stock has a market cap of $5.52 billion, a P/E ratio of 34.17, a P/E/G ratio of 0.18 and a beta of 1.78. PennyMac Financial Services has a twelve month low of $81.93 and a twelve month 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 simple moving average is $103.35 and its two-hundred day simple moving average is $103.49.

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 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. During the same period last year, the company posted $1.77 EPS. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts predict that PennyMac Financial Services will post 11.76 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.11%. PennyMac Financial Services's payout ratio is currently 38.10%.

Insider Activity at PennyMac Financial Services

In related news, Director Doug Jones sold 23,229 shares of the company's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $101.51, for a total value of $2,357,975.79. Following the sale, the director now directly owns 23,892 shares of the company's stock, valued at $2,425,276.92. This represents a 49.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Gregory L. Hendry sold 3,032 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the transaction, the chief accounting officer now directly owns 48,040 shares of the company's stock, valued at approximately $4,904,403.60. This represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 147,844 shares of company stock valued at $15,079,791. Corporate insiders own 16.60% of the company's stock.

Hedge Funds Weigh In On PennyMac Financial Services

Large investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of 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 valued at $133,003,000 after acquiring an additional 815,389 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock worth $108,809,000 after purchasing an additional 21,751 shares during the period. State Street Corp lifted its position in shares of PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust's stock worth $103,911,000 after buying an additional 51,777 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of PennyMac Financial Services by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust's stock valued at $73,841,000 after buying an additional 19,662 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of PennyMac Financial Services by 7.5% during the 3rd 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 buying an additional 31,035 shares during the last quarter. Institutional investors own 57.87% of the company's stock.

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.