PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $122.17 Consensus Price Target from Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have been given an average recommendation of "Buy" by the six brokerages that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have covered the stock in the last year is $122.67.

A number of research analysts recently commented on PFSI shares. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a research note on Tuesday. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a research report on Friday, January 31st.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock traded up $2.13 during trading hours on Friday, reaching $94.54. The company's stock had a trading volume of 877,605 shares, compared to its average volume of 295,195. PennyMac Financial Services has a one year low of $83.03 and a one year high of $119.13. The company's 50 day simple moving average is $100.56 and its 200 day simple moving average is $103.55. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The stock has a market cap of $4.86 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73.

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

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio is currently 20.55%.

Insider Activity at PennyMac Financial Services

In related news, insider James Follette sold 1,983 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now owns 10,497 shares in the company, valued at $1,048,965.21. This trade represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Elbaum sold 410 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the sale, the insider now directly owns 4,207 shares in the company, valued at approximately $432,816.16. The trade was a 8.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,464 shares of company stock worth $4,540,867 in the last 90 days. Corporate insiders own 16.60% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Rhumbline Advisers raised its position in PennyMac Financial Services by 1.6% in the first quarter. Rhumbline Advisers now owns 42,208 shares of the real estate investment trust's stock worth $4,225,000 after acquiring an additional 679 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of PennyMac Financial Services by 12,101.0% in the 1st quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust's stock worth $1,173,000 after purchasing an additional 11,617 shares in the last quarter. ProShare Advisors LLC lifted its stake in PennyMac Financial Services by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 7,530 shares of the real estate investment trust's stock valued at $769,000 after purchasing an additional 2,478 shares during the last quarter. Millennium Management LLC boosted its holdings in PennyMac Financial Services by 104.5% during the fourth quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust's stock worth $52,967,000 after buying an additional 264,956 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in PennyMac Financial Services by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust's stock worth $1,554,000 after buying an additional 606 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.