PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Average Recommendation of “Hold” from Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned a consensus rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $104.8750.

PFSI has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of PennyMac Financial Services in a research note on Monday, August 3rd. Keefe, Bruyette & Woods reduced their target price on PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Wells Fargo & Company reduced their target price on PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Barclays decreased their price target on PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Finally, BTIG Research decreased their target price on PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th.

PennyMac Financial Services Trading Down 0.1%

Shares of PennyMac Financial Services stock opened at $66.47 on Friday. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.63 and a beta of 1.44. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services has a 12-month low of $65.03 and a 12-month high of $160.36. The firm’s 50-day moving average price is $76.46 and its two-hundred day moving average price is $82.98.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.18%. The firm had revenue of $496.96 million during the quarter, compared to analyst estimates of $571.60 million. During the same quarter in the previous year, the firm posted $2.54 earnings per share. PennyMac Financial Services’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, analysts forecast that PennyMac Financial Services will post 7.36 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.20 annualized dividend and a yield of 1.8%. PennyMac Financial Services’s dividend payout ratio is presently 16.48%.

Insiders Place Their Bets

In other PennyMac Financial Services news, CAO Gregory Hendry sold 2,177 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were 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 approximately $4,254,829.52. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in PennyMac Financial Services in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of PennyMac Financial Services by 7,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 228 shares during the period. Silvant Capital Management LLC acquired a new position in shares of PennyMac Financial Services during the second quarter worth $34,000. Freestone Grove Partners LP bought a new stake in shares of PennyMac Financial Services in the second quarter worth $41,000. Finally, Clearstead Advisors LLC raised its position in PennyMac Financial Services by 131.8% during the 4th quarter. Clearstead Advisors LLC now owns 503 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 286 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 (NYSE:PFSI) is a mortgage banking company that provides a range of residential lending and loan servicing services in the United States. The company operates through its subsidiaries and focuses primarily on the production and servicing of conventional and government-insured residential mortgage loans.

PennyMac’s loan production business acquires, originates and refinances mortgage loans through correspondent, broker-direct and consumer-direct channels.