Analysts Set PennyMac Financial Services, Inc. (NYSE:PFSI) PT at $114.62

PennyMac Financial Services, Inc. (NYSE:PFSI) has been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $114.6250.

Several analysts recently weighed in on PFSI shares. Barclays downgraded PennyMac Financial Services from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $107.00 to $93.00 in a research report on Tuesday, July 7th. Zacks Research cut PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Weiss Ratings downgraded PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. BTIG Research dropped their target price on shares of PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Finally, Stephens assumed coverage on shares of PennyMac Financial Services in a research note on Friday, April 24th. They issued an “equal weight” rating and a $100.00 price target on the stock.

Insiders Place Their Bets

In related news, CAO Gregory L. Hendry sold 2,177 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $86.89, for a total transaction of $189,159.53. Following the sale, the chief accounting officer owned 48,968 shares of the company’s stock, valued at $4,254,829.52. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $87.99, for a total value of $879,900.00. Following the sale, the chief executive officer owned 60,604 shares in the company, valued at $5,332,545.96. This represents a 14.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 18,045 shares of company stock valued at $1,565,470. 15.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its holdings in shares of PennyMac Financial Services by 3.8% during the first quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock worth $2,404,000 after purchasing an additional 875 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PennyMac Financial Services by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock valued at $1,594,000 after buying an additional 706 shares during the period. Intech Investment Management LLC raised its holdings in PennyMac Financial Services by 5.8% in the 1st quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust’s stock valued at $1,540,000 after buying an additional 840 shares during the last quarter. Strs Ohio bought a new position in PennyMac Financial Services in the 1st quarter valued at approximately $30,000. Finally, Prudential Financial Inc. boosted its position in PennyMac Financial Services by 82.8% during the 2nd quarter. Prudential Financial Inc. now owns 4,084 shares of the real estate investment trust’s stock worth $413,000 after buying an additional 1,850 shares during the period. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Down 0.1%

Shares of PFSI opened at $84.29 on Friday. The firm has a 50 day simple moving average of $83.53 and a two-hundred day simple moving average of $95.18. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.33 and a quick ratio of 0.33. PennyMac Financial Services has a one year low of $77.67 and a one year high of $160.36. The company has a market cap of $4.38 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.60 and a beta of 1.44.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The business had revenue of $544.98 million during the quarter, compared to analyst estimates of $546.17 million. During the same period in the prior year, the business posted $1.42 EPS. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. Research analysts forecast that PennyMac Financial Services will post 9.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a $0.30 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 12.75%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.