PennyMac Financial Services Inc. (NYSE:PFSI) has received an average rating of “Buy” from the twelve brokerages that are currently covering the firm. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.56.

Several research firms have recently commented on PFSI. JMP Securities reiterated a “buy” rating on shares of PennyMac Financial Services in a report on Friday, November 4th. Nomura reissued a “buy” rating and issued a $20.00 target price on shares of PennyMac Financial Services in a research note on Friday, November 4th. Compass Point cut PennyMac Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 28th. Bank of America Corp. cut PennyMac Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 28th. Finally, Zacks Investment Research raised PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Saturday, September 17th.

In other news, major shareholder Leon G. Cooperman sold 37,211 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $17.89, for a total value of $665,704.79. Following the sale, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $1,789,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Anne Mccallion sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $17.64, for a total value of $88,200.00. The disclosure for this sale can be found here. Company insiders own 45.97% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of PennyMac Financial Services by 2.0% in the second quarter. Vanguard Group Inc. now owns 1,259,303 shares of the real estate investment trust’s stock worth $15,728,000 after buying an additional 24,286 shares in the last quarter. Boston Partners boosted its stake in shares of PennyMac Financial Services by 3.6% in the third quarter. Boston Partners now owns 706,650 shares of the real estate investment trust’s stock worth $12,020,000 after buying an additional 24,754 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of PennyMac Financial Services by 5.7% in the second quarter. Alliancebernstein L.P. now owns 274,450 shares of the real estate investment trust’s stock worth $3,428,000 after buying an additional 14,733 shares in the last quarter. New Amsterdam Partners LLC NY bought a new stake in shares of PennyMac Financial Services during the third quarter worth approximately $4,479,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of PennyMac Financial Services by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 158,542 shares of the real estate investment trust’s stock worth $1,980,000 after buying an additional 7,397 shares in the last quarter. 94.07% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services (NYSE:PFSI) opened at 17.70 on Friday. The company’s 50-day moving average price is $16.72 and its 200-day moving average price is $15.17. The firm has a market capitalization of $394.87 million, a P/E ratio of 6.96 and a beta of 0.57. PennyMac Financial Services has a 1-year low of $10.48 and a 1-year high of $18.13.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, November 3rd. The real estate investment trust reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.16. The firm had revenue of $291.40 million for the quarter, compared to the consensus estimate of $259.79 million. PennyMac Financial Services had a return on equity of 4.88% and a net margin of 6.76%. The company’s quarterly revenue was up 54.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 earnings per share. Equities research analysts expect that PennyMac Financial Services will post $2.71 earnings per share for the current fiscal year.

WARNING: This article was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was illegally copied and republished in violation of U.S. and international copyright & trademark law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2016/11/28/brokerages-set-pennymac-financial-services-inc-pfsi-pt-at-18-56.html.

About PennyMac Financial Services

PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. It operates through three segments: loan production, loan servicing and investment management.

5 Day Chart for NYSE:PFSI

Receive News & Stock Ratings for PennyMac Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services Inc. and related stocks with our FREE daily email newsletter.