Keefe, Bruyette & Woods Cuts PennyMac Financial Services (NYSE:PFSI) Price Target to $100.00

PennyMac Financial Services (NYSE:PFSI) had its price objective dropped by equities research analysts at Keefe, Bruyette & Woods from $105.00 to $100.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 15.42% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on PFSI. Deutsche Bank Aktiengesellschaft reduced their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday. Barclays boosted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of PennyMac Financial Services in a report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $97.75.

PennyMac Financial Services Stock Performance

NYSE PFSI traded up $0.44 on Friday, reaching $86.64. The stock had a trading volume of 33,949 shares, compared to its average volume of 238,394. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. PennyMac Financial Services has a 12-month low of $56.16 and a 12-month high of $94.78. The business’s 50-day moving average price is $87.95 and its 200 day moving average price is $82.89. The stock has a market cap of $4.37 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last issued 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. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. The company had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. As a group, equities analysts expect that PennyMac Financial Services will post 10.41 earnings per share for the current year.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the company’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David Spector sold 10,000 shares of the company’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the company’s stock in a transaction 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 owns 257,897 shares in the company, valued at $22,823,884.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,802 shares of company stock valued at $7,666,108. Insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of large investors have recently modified their holdings of the company. USA Financial Formulas acquired a new stake in PennyMac Financial Services during the 4th quarter valued at approximately $25,000. Hexagon Capital Partners LLC raised its stake in PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of PennyMac Financial Services during the 4th quarter valued at $36,000. Exchange Traded Concepts LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter valued at $57,000. Finally, TFO Wealth Partners LLC increased its position in shares of PennyMac Financial Services by 16,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,141 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.