PennyMac Financial Services (NYSE:PFSI) Price Target Cut to $130.00 by Analysts at Piper Sandler

PennyMac Financial Services (NYSE:PFSI - Get Free Report) had its price objective lowered by stock analysts at Piper Sandler from $132.00 to $130.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's price target would indicate a potential upside of 23.86% from the company's current price.

Several other equities research analysts have also weighed in on the company. Barclays boosted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Wedbush restated an "outperform" rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.17.

PennyMac Financial Services Stock Up 3.3 %

PFSI traded up $3.33 during midday trading on Friday, hitting $104.96. 521,503 shares of the company's stock traded hands, compared to its average volume of 365,559. 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 has a market cap of $5.38 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78. PennyMac Financial Services has a one year low of $83.03 and a one year high of $119.13. The stock's fifty day simple moving average is $104.54 and its 200-day simple moving average is $104.44.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.80%. As a group, equities analysts anticipate that PennyMac Financial Services will post 14.02 earnings per share for the current fiscal year.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 5,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total value of $496,900.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at approximately $16,457,725.52. This represents a 2.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the sale, the chief financial officer now owns 225,497 shares in the company, valued at approximately $22,554,209.94. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,844 shares of company stock valued at $15,079,791 in the last quarter. Corporate insiders own 16.60% of the company's stock.

Institutional Trading of PennyMac Financial Services

Several institutional investors have recently bought and sold shares of the stock. MorganRosel Wealth Management LLC lifted its holdings in shares of PennyMac Financial Services by 60.4% during the fourth quarter. MorganRosel Wealth Management LLC now owns 11,728 shares of the real estate investment trust's stock valued at $1,198,000 after acquiring an additional 4,416 shares during the period. Bank of New York Mellon Corp lifted its holdings in PennyMac Financial Services by 22.7% during the 4th quarter. Bank of New York Mellon Corp now owns 198,897 shares of the real estate investment trust's stock valued at $20,315,000 after purchasing an additional 36,800 shares during the last quarter. New York State Common Retirement Fund grew its stake in PennyMac Financial Services by 6.1% during the fourth quarter. New York State Common Retirement Fund now owns 71,065 shares of the real estate investment trust's stock worth $7,259,000 after buying an additional 4,077 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of PennyMac Financial Services by 4.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 20,017 shares of the real estate investment trust's stock worth $2,045,000 after buying an additional 766 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of PennyMac Financial Services by 1.0% in the fourth quarter. Rhumbline Advisers now owns 41,529 shares of the real estate investment trust's stock valued at $4,242,000 after acquiring an additional 414 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.

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.