PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $114.62 Consensus PT from Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $114.6250.

PFSI has been the subject of several research analyst reports. BTIG Research reduced their target price on PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Zacks Research cut shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Weiss Ratings lowered shares of PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Piper Sandler cut their price target on shares of PennyMac Financial Services from $112.00 to $106.00 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th.

Insider Transactions at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 2,925 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $87.50, for a total value of $255,937.50. Following the transaction, the chief financial officer directly owned 210,625 shares of the company’s stock, valued at approximately $18,429,687.50. This trade represents a 1.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $87.99, for a total value of $879,900.00. Following the completion of the sale, the chief executive officer owned 60,604 shares in the company, valued at approximately $5,332,545.96. The trade was a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,045 shares of company stock valued at $1,565,470 over the last 90 days. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds have recently made changes to their positions in PFSI. Caitong International Asset Management Co. Ltd lifted its position in shares of PennyMac Financial Services by 7,600.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 228 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of PennyMac Financial Services during the fourth quarter worth approximately $31,000. EverSource Wealth Advisors LLC acquired a new position in PennyMac Financial Services in the 2nd quarter valued at $26,000. GAMMA Investing LLC raised its stake in PennyMac Financial Services by 97.3% in the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 142 shares during the last quarter. Finally, Strs Ohio purchased a new position in PennyMac Financial Services in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock opened at $85.93 on Friday. The firm has a market cap of $4.46 billion, a PE ratio of 9.13, a P/E/G ratio of 0.60 and a beta of 1.44. PennyMac Financial Services has a twelve month low of $77.67 and a twelve month high of $160.36. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. The business has a 50-day moving average price of $83.52 and a 200 day moving average price of $94.48.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The business had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. During the same quarter in the prior year, the company posted $1.42 EPS. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. Sell-side analysts predict that PennyMac Financial Services will post 9.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. PennyMac Financial Services’s payout ratio is currently 12.75%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.