PennyMac Financial Services’ (PFSI) “Outperform” Rating Reiterated at Wedbush

PennyMac Financial Services (NYSE:PFSI)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $110.00 target price on the real estate investment trust’s stock. Wedbush’s target price suggests a potential upside of 19.47% from the stock’s previous close.

A number of other analysts have also recently commented on the company. StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Barclays upped their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $105.00 in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on PennyMac Financial Services in a research note on Wednesday, January 10th. They issued a “buy” rating and a $115.00 price objective for the company. Two equities research 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 has a consensus rating of “Moderate Buy” and an average price target of $98.75.

PennyMac Financial Services Stock Down 0.8 %

PFSI stock opened at $92.07 on Thursday. PennyMac Financial Services has a one year low of $56.16 and a one year high of $94.78. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. The firm’s fifty day moving average is $87.88 and its 200 day moving average is $82.82. The firm has a market cap of $4.64 billion, a PE ratio of 33.97, a P/E/G ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. The business had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. On average, research analysts forecast that PennyMac Financial Services will post 10.41 EPS for the current year.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at $22,823,884.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the sale, the chief executive officer now directly owns 250,604 shares in the company, valued at $22,734,794.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the company’s 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 transaction, the chief financial officer now directly owns 257,897 shares of the company’s stock, valued at $22,823,884.50. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock valued at $7,666,108 over the last quarter. 17.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new position in PennyMac Financial Services in the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 205 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of PennyMac Financial Services in the 4th quarter valued at $36,000. Exchange Traded Concepts LLC acquired a new stake in PennyMac Financial Services during the 3rd quarter worth $57,000. Finally, TFO Wealth Partners LLC lifted its position in PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 1,141 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.