PennyMac Financial Services (NYSE:PFSI) Stock Rating Lowered by StockNews.com

PennyMac Financial Services (NYSE:PFSI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other research firms have also issued reports on PFSI. Deutsche Bank Aktiengesellschaft reduced their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Wedbush restated an “outperform” rating and set a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, Barclays increased their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.75.

PennyMac Financial Services Stock Down 3.0 %

Shares of PennyMac Financial Services stock opened at $91.08 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services has a 12-month low of $58.65 and a 12-month high of $94.80. The firm has a market capitalization of $4.64 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 0.61 and a beta of 1.68. The stock’s fifty day moving average is $89.65 and its 200-day moving average is $86.25.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. The company had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. Equities analysts anticipate that PennyMac Financial Services will post 10.55 earnings per share for the current year.

Insider Transactions at PennyMac Financial Services

In other news, Director Joseph F. Mazzella sold 16,465 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total value of $1,493,869.45. Following the transaction, the director now owns 116,546 shares of the company’s stock, valued at $10,574,218.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Joseph F. Mazzella sold 16,465 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the completion of the transaction, the director now owns 116,546 shares of the company’s stock, valued at approximately $10,574,218.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total value of $1,048,800.00. Following the sale, the chief financial officer now owns 246,497 shares of the company’s stock, valued at approximately $22,677,724. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,267 shares of company stock worth $8,823,777. 16.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of PennyMac Financial Services during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC boosted its stake in PennyMac Financial Services by 128.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 205 shares in the last quarter. Parkside Financial Bank & Trust bought a new stake in PennyMac Financial Services in the 4th quarter valued at $36,000. TFO Wealth Partners LLC raised its stake in shares of PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,141 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services during the 1st quarter worth about $202,000. 57.87% of the stock is currently owned by 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. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.