PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $115.86 Average Price Target from Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $115.86.

A number of research analysts recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a report on Monday, July 22nd. Wells Fargo & Company boosted their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Piper Sandler boosted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Barclays boosted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th.

Insider Buying and Selling

In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $99.31, for a total transaction of $993,100.00. Following the completion of the sale, the chief executive officer now directly owns 210,604 shares in the company, valued at $20,915,083.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $99.31, for a total transaction of $993,100.00. Following the completion of the sale, the chief executive officer now directly owns 210,604 shares in the company, valued at $20,915,083.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the sale, the chief financial officer now owns 235,997 shares of the company’s stock, valued at approximately $26,651,141.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,459 shares of company stock worth $8,531,702 in the last ninety days. 16.60% of the stock is owned by insiders.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its holdings in PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 109 shares in the last quarter. KBC Group NV increased its holdings in PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares in the last quarter. QRG Capital Management Inc. increased its holdings in PennyMac Financial Services by 0.7% in the 1st quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust’s stock worth $3,087,000 after purchasing an additional 232 shares in the last quarter. Blue Trust Inc. increased its holdings in PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 262 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services in the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Down 1.2 %

NYSE:PFSI opened at $104.80 on Wednesday. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 33.27 and a beta of 1.79. PennyMac Financial Services has a twelve month low of $71.40 and a twelve month high of $119.13. The stock’s 50 day moving average price is $107.66 and its two-hundred day moving average price is $99.51. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). The company had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.77 EPS. Equities research analysts expect that PennyMac Financial Services will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.15%. PennyMac Financial Services’s payout ratio is 38.10%.

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.