PennyMac Financial Services, Inc. (PFSI) Upgraded at ValuEngine
PennyMac Financial Services, Inc. (NYSE:PFSI) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.
PFSI has been the subject of several other research reports. Zacks Investment Research lowered shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 25th. BidaskClub upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of PennyMac Financial Services in a research note on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $20.33.
Shares of PennyMac Financial Services (NYSE:PFSI) opened at $18.80 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.66. PennyMac Financial Services has a 12 month low of $15.65 and a 12 month high of $19.35. The firm has a market cap of $431.99, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 1.66 and a beta of 0.63.
PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.71 earnings per share for the quarter, meeting the consensus estimate of $0.71. PennyMac Financial Services had a net margin of 6.47% and a return on equity of 4.11%. The firm had revenue of $250.64 million during the quarter, compared to analyst estimates of $238.59 million. The business’s revenue was down 14.0% on a year-over-year basis. equities research analysts forecast that PennyMac Financial Services will post 2.24 EPS for the current year.
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In other news, insider Jeffrey Grogin sold 12,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $17.01, for a total transaction of $204,120.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David M. Walker sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $18.63, for a total transaction of $186,300.00. The disclosure for this sale can be found here. Insiders have sold 187,424 shares of company stock valued at $3,286,412 in the last 90 days. Insiders own 45.64% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in PennyMac Financial Services by 5.8% in the second quarter. Vanguard Group Inc. now owns 1,634,763 shares of the real estate investment trust’s stock worth $27,301,000 after purchasing an additional 90,238 shares during the period. Numeric Investors LLC lifted its holdings in PennyMac Financial Services by 72.1% in the second quarter. Numeric Investors LLC now owns 776,152 shares of the real estate investment trust’s stock worth $12,962,000 after purchasing an additional 325,169 shares during the period. Mangrove Partners acquired a new stake in PennyMac Financial Services in the third quarter worth about $12,760,000. Dimensional Fund Advisors LP lifted its holdings in PennyMac Financial Services by 17.7% in the third quarter. Dimensional Fund Advisors LP now owns 625,742 shares of the real estate investment trust’s stock worth $11,138,000 after purchasing an additional 93,918 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in PennyMac Financial Services by 2.8% in the second quarter. JPMorgan Chase & Co. now owns 397,176 shares of the real estate investment trust’s stock worth $6,633,000 after purchasing an additional 10,969 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.
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. The Company operates through three segments: loan production, loan servicing and investment management.
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