Zacks Investment Research lowered shares of PennyMac Financial Services (NYSE:PFSI) from a hold rating to a sell rating in a report issued on Thursday morning.
According to Zacks, “PennyMac Financial Services, Inc. provides financial services primarily in the United States. The Company conducts its business in two segments: mortgage banking and investment management. Mortgage banking segment offers correspondent and retail lending businesses and loan servicing business. Investment management segment offers investment advisory and investment management services. PennyMac Financial Services, Inc. is headquartered in Moorpark, California. “
Several other brokerages have also issued reports on PFSI. ValuEngine upgraded shares of PennyMac Financial Services from a hold rating to a buy rating in a research report on Friday, August 3rd. Compass Point reiterated a hold rating and issued a $23.00 target price on shares of PennyMac Financial Services in a research report on Tuesday, August 7th. Finally, Barclays set a $24.00 price target on shares of PennyMac Financial Services and gave the stock a buy rating in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. PennyMac Financial Services presently has an average rating of Hold and an average target price of $24.80.
PFSI opened at $20.66 on Thursday. The firm has a market cap of $524.61 million, a PE ratio of 9.39, a PEG ratio of 0.80 and a beta of 0.55. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.27. PennyMac Financial Services has a one year low of $17.85 and a one year high of $25.20.
PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.04. PennyMac Financial Services had a net margin of 11.03% and a return on equity of 3.91%. The company had revenue of $244.30 million during the quarter, compared to analyst estimates of $241.49 million. Sell-side analysts forecast that PennyMac Financial Services will post 2.63 EPS for the current fiscal year.
In other news, Director Matthew Botein sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $19.86, for a total transaction of $198,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anne Mccallion sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $21.22, for a total transaction of $106,100.00. The disclosure for this sale can be found here. Insiders sold 85,000 shares of company stock valued at $1,722,700 over the last three months. 42.06% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of PFSI. Assetmark Inc. raised its stake in shares of PennyMac Financial Services by 2,681.9% during the first quarter. Assetmark Inc. now owns 8,012 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 7,724 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in PennyMac Financial Services by 94.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,425 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 6,020 shares in the last quarter. GSA Capital Partners LLP bought a new position in PennyMac Financial Services in the first quarter worth about $252,000. MetLife Investment Advisors LLC raised its stake in PennyMac Financial Services by 75.5% in the second quarter. MetLife Investment Advisors LLC now owns 12,814 shares of the real estate investment trust’s stock worth $252,000 after buying an additional 5,514 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in PennyMac Financial Services by 28.4% in the second quarter. Rhumbline Advisers now owns 19,822 shares of the real estate investment trust’s stock worth $390,000 after buying an additional 4,387 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.
About PennyMac Financial Services
PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.
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