PennyMac Financial Services, Inc. (NYSE:PFSI) Given Average Recommendation of “Moderate Buy” by Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $122.50.

Several equities research analysts have issued reports on the company. Barclays increased their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Finally, Piper Sandler increased their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd.

Insider Activity

In other news, CEO David Spector sold 61,120 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the transaction, the chief executive officer now owns 634,612 shares in the company, valued at approximately $64,552,732.64. This trade represents a 8.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Gregory L. Hendry sold 3,032 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the transaction, the chief accounting officer now owns 48,040 shares in the company, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,844 shares of company stock valued at $15,079,791 over the last three months. Insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new position in PennyMac Financial Services during the 3rd quarter worth $37,000. Blue Trust Inc. increased its stake in PennyMac Financial Services by 59.5% during the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 262 shares during the period. KBC Group NV increased its stake in PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 226 shares during the period. Quantbot Technologies LP increased its stake in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 290 shares during the period. Finally, Verition Fund Management LLC bought a new position in PennyMac Financial Services during the 3rd quarter worth $203,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 0.3 %

Shares of PFSI opened at $109.54 on Monday. 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 has a 12-month low of $83.03 and a 12-month high of $119.13. The firm has a market capitalization of $5.61 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78. The stock’s fifty day simple moving average is $103.91 and its 200-day simple moving average is $103.90.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.77 EPS. As a group, research analysts predict that PennyMac Financial Services will post 11.76 earnings per share for the current year.

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.