PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) gapped down prior to trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $115.00 to $112.00. The stock had previously closed at $92.07, but opened at $85.32. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. PennyMac Financial Services shares last traded at $85.85, with a volume of 297,138 shares traded.
A number of other equities research analysts have also weighed in on PFSI. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $100.00 to $105.00 in a research note on Tuesday, April 9th. StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Barclays increased their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $110.00 target price on shares of PennyMac Financial Services in a report on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and a consensus target price of $98.38.
Read Our Latest Analysis on PennyMac Financial Services
Insider Activity at PennyMac Financial Services
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its stake in PennyMac Financial Services by 283.2% during the 3rd quarter. SG Americas Securities LLC now owns 10,415 shares of the real estate investment trust’s stock worth $694,000 after acquiring an additional 7,697 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of PennyMac Financial Services during the third quarter worth $57,000. Dakota Wealth Management bought a new position in shares of PennyMac Financial Services in the 3rd quarter valued at $1,313,000. Bank of New York Mellon Corp increased its position in shares of PennyMac Financial Services by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 234,486 shares of the real estate investment trust’s stock worth $15,617,000 after buying an additional 7,251 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PennyMac Financial Services by 13.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,076 shares of the real estate investment trust’s stock worth $538,000 after acquiring an additional 944 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.
PennyMac Financial Services Stock Performance
The company’s fifty day simple moving average is $87.88 and its 200 day simple moving average is $82.82. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $4.35 billion, a PE ratio of 31.42, a P/E/G ratio of 0.61 and a beta of 1.67.
PennyMac Financial Services (NYSE:PFSI – Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. The business had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. As a group, equities research analysts expect that PennyMac Financial Services, Inc. will post 10.41 EPS for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Monday, February 12th. PennyMac Financial Services’s dividend payout ratio is presently 29.52%.
About PennyMac Financial Services
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.
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