PennyMac Financial Services, Inc. (NYSE:PFSI) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $98.13.

PFSI has been the topic of a number of recent analyst reports. Barclays lifted their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft began coverage on PennyMac Financial Services in a research report on Wednesday, January 10th. They set a “buy” rating and a $115.00 target price for the company. StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $105.00 in a research note on Tuesday, April 9th. Finally, Wedbush raised their price target on PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, January 2nd.

Insider Activity at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at approximately $22,823,884.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the sale, the insider now owns 7,257 shares of the company’s stock, valued at $625,843.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $88.50, for a total value of $1,008,900.00. Following the completion of the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at approximately $22,823,884.50. The disclosure for this sale can be found here. Insiders sold a total of 87,802 shares of company stock worth $7,666,108 in the last 90 days. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of PFSI. Qube Research & Technologies Ltd purchased a new position in PennyMac Financial Services during the third quarter worth about $3,370,000. Graham Capital Management L.P. purchased a new stake in PennyMac Financial Services in the 3rd quarter worth approximately $1,237,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $3,657,000. Invesco Ltd. grew its stake in shares of PennyMac Financial Services by 47.6% during the 3rd quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after buying an additional 158,181 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of PennyMac Financial Services by 13.4% during the 3rd quarter. Deutsche Bank AG now owns 13,409 shares of the real estate investment trust’s stock valued at $893,000 after buying an additional 1,587 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $92.07 on Friday. The stock has a market capitalization of $4.64 billion, a P/E ratio of 33.97, a P/E/G ratio of 0.59 and a beta of 1.67. PennyMac Financial Services has a twelve month low of $56.16 and a twelve month high of $94.78. The company has a 50 day moving average of $87.88 and a 200-day moving average of $82.82. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.75. The business had revenue of $361.94 million during the quarter, compared to the consensus estimate of $413.35 million. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. As a group, equities research analysts forecast that PennyMac Financial Services will post 10.41 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.87%. PennyMac Financial Services’s payout ratio is currently 29.52%.

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. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.