PennyMac Financial Services (NYSE:PFSI) Stock Gets Price Target Trim from Barclays

PennyMac Financial Services (NYSE:PFSI) had its price target reduced by Barclays from $71.00 to $67.00 in a report published on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

Several other brokerages have also issued reports on PFSI. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $86.00 to $71.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from a “moderate buy” rating to a “hold” rating and reduced their price objective for the stock from $100.00 to $80.00 in a research report on Monday. Wall Street Zen cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings downgraded shares of PennyMac Financial Services from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 29th. Finally, Stephens lowered their price objective on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $88.71.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $67.42 on Monday. The firm’s 50 day moving average price is $65.45 and its two-hundred day moving average price is $83.79. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services has a twelve month low of $57.52 and a twelve month high of $160.36. The firm has a market cap of $3.50 billion, a P/E ratio of 15.15 and a beta of 1.48.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.22). The company had revenue of $502.00 million for the quarter, compared to analyst estimates of $531.77 million. PennyMac Financial Services had a return on equity of 8.20% and a net margin of 11.72%. The company’s revenue was down 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.37 earnings per share. On average, analysts forecast that PennyMac Financial Services will post 5.78 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, November 16th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 26.97%.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently modified their holdings of the business. MFN Partners Management LP bought a new stake in shares of PennyMac Financial Services in the 2nd quarter valued at $394,719,083. BlackRock Inc. bought a new position in PennyMac Financial Services in the 2nd quarter valued at about $202,735,000. Dimensional Fund Advisors LP boosted its position in shares of PennyMac Financial Services by 7.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,916,271 shares of the real estate investment trust’s stock valued at $167,474,000 after buying an additional 126,902 shares during the last quarter. Donald Smith & CO. Inc. purchased a new position in PennyMac Financial Services during the 2nd quarter worth $163,940,000. Finally, Senvest Management LLC boosted its holdings in PennyMac Financial Services by 21.9% during the first quarter. Senvest Management LLC now owns 508,633 shares of the real estate investment trust’s stock worth $44,455,000 after purchasing an additional 91,300 shares during the last quarter. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a specialty financial services company focused on the U.S. residential mortgage market. Through its subsidiaries, the company originates, acquires, and services residential mortgage loans, with an emphasis on conventional, government-backed, and other mortgage products.

PennyMac’s primary businesses include mortgage production, loan servicing, and investment management. Its production platform acquires and originates loans through correspondent relationships with banks and other lenders, as well as through direct-to-consumer and broker channels.