PennyMac Financial Services Inc (PFSI) Receives Average Rating of “Hold” from Analysts
PennyMac Financial Services Inc (NYSE:PFSI) has received a consensus recommendation of “Hold” from the ten research firms that are currently covering the company. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $19.64.
Several equities research analysts recently weighed in on PFSI shares. Zacks Investment Research cut shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, January 4th. JMP Securities cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 8th. Compass Point upgraded shares of PennyMac Financial Services from a “neutral” rating to a “buy” rating in a research note on Monday, February 6th. Instinet raised their price target on shares of PennyMac Financial Services from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $21.00 price target on shares of PennyMac Financial Services in a research note on Thursday, April 6th.
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In other news, insider David M. Walker sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $16.46, for a total transaction of $164,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Grogin sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $18.53, for a total transaction of $166,770.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 206,474 shares of company stock valued at $3,513,395. Corporate insiders own 45.97% of the company’s stock.
Several hedge funds have recently bought and sold shares of PFSI. Boston Partners raised its stake in 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 valued at $12,020,000 after buying an additional 24,754 shares during the last quarter. New Amsterdam Partners LLC NY purchased a new stake in PennyMac Financial Services during the third quarter valued at $4,479,000. Two Sigma Investments LP raised its stake in PennyMac Financial Services by 555.5% in the fourth quarter. Two Sigma Investments LP now owns 75,000 shares of the real estate investment trust’s stock valued at $1,249,000 after buying an additional 63,558 shares during the last quarter. TD Asset Management Inc. raised its stake in PennyMac Financial Services by 11.7% in the third quarter. TD Asset Management Inc. now owns 12,400 shares of the real estate investment trust’s stock valued at $211,000 after buying an additional 1,300 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in PennyMac Financial Services during the fourth quarter valued at $440,000. 91.70% of the stock is owned by institutional investors.
Shares of PennyMac Financial Services (NYSE:PFSI) remained flat at $16.60 on Friday. The stock had a trading volume of 231,458 shares. PennyMac Financial Services has a 1-year low of $11.10 and a 1-year high of $19.35. The stock has a 50 day moving average of $16.93 and a 200 day moving average of $17.10. The stock has a market cap of $377.45 million, a PE ratio of 5.64 and a beta of 0.56.
PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, February 2nd. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.18. PennyMac Financial Services had a net margin of 7.09% and a return on equity of 5.54%. The business earned $289.30 million during the quarter, compared to analysts’ expectations of $248.26 million. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue was up 54.5% on a year-over-year basis. On average, equities research analysts anticipate that PennyMac Financial Services will post $2.97 earnings per share for the current year.
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.
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