PennyMac Financial Services (NYSE:PFSI) had its target price raised by Wedbush from $34.00 to $40.00 in a research report sent to investors on Monday, The Fly reports. Wedbush currently has an outperform rating on the real estate investment trust’s stock. Wedbush also issued estimates for PennyMac Financial Services’ Q1 2020 earnings at $1.23 EPS, Q2 2020 earnings at $1.30 EPS, Q3 2020 earnings at $1.20 EPS, Q4 2020 earnings at $1.02 EPS, FY2020 earnings at $4.75 EPS and FY2021 earnings at $4.78 EPS.

A number of other research firms also recently issued reports on PFSI. Zacks Investment Research upgraded shares of PennyMac Financial Services from a hold rating to a strong-buy rating and set a $39.00 target price for the company in a research report on Wednesday, February 5th. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an outperform rating to a market perform rating and set a $36.00 price target on the stock. in a report on Sunday, December 8th. Piper Jaffray Companies raised their price target on shares of PennyMac Financial Services from $42.00 to $44.00 and gave the company an overweight rating in a report on Tuesday, November 19th. Barclays restated a buy rating and set a $37.00 price target on shares of PennyMac Financial Services in a report on Friday, October 25th. Finally, ValuEngine downgraded shares of PennyMac Financial Services from a sell rating to a strong sell rating in a report on Thursday, December 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $37.14.

PennyMac Financial Services stock traded down $0.12 during midday trading on Monday, reaching $35.34. The stock had a trading volume of 15,952 shares, compared to its average volume of 546,690. The firm’s fifty day simple moving average is $34.47 and its two-hundred day simple moving average is $31.69. PennyMac Financial Services has a twelve month low of $20.36 and a twelve month high of $39.57. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.73 and a beta of 0.44.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.31. PennyMac Financial Services had a net margin of 26.60% and a return on equity of 21.86%. The firm had revenue of $490.38 million during the quarter, compared to analyst estimates of $454.75 million. As a group, sell-side analysts predict that PennyMac Financial Services will post 5.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Friday, February 14th will be given a $0.12 dividend. The ex-dividend date is Thursday, February 13th. This represents a $0.48 annualized dividend and a yield of 1.36%. PennyMac Financial Services’s dividend payout ratio is 9.82%.

In other news, Director Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $38.21, for a total transaction of $573,150.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey Grogin sold 8,628 shares of PennyMac Financial Services stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $32.12, for a total transaction of $277,131.36. The disclosure for this sale can be found here. Insiders sold a total of 113,128 shares of company stock worth $3,901,616 over the last 90 days. Company insiders own 22.17% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC bought a new position in PennyMac Financial Services during the 4th quarter valued at about $32,000. US Bancorp DE grew its holdings in PennyMac Financial Services by 76.5% during the fourth quarter. US Bancorp DE now owns 1,537 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 666 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PennyMac Financial Services by 17.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 526 shares during the period. Russell Investments Group Ltd. acquired a new position in PennyMac Financial Services during the third quarter valued at approximately $133,000. Finally, Great West Life Assurance Co. Can acquired a new position in PennyMac Financial Services during the fourth quarter valued at approximately $156,000. Institutional investors and hedge funds own 51.10% of the company’s stock.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

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The Fly

Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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