PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $122.17.

A number of analysts have commented on PFSI shares. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $98.09 on Tuesday. The company has a fifty day moving average of $103.06 and a 200-day moving average of $104.94. The firm has a market capitalization of $5.04 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.19 and a beta of 1.90. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. PennyMac Financial Services has a twelve month low of $83.03 and a twelve month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. As a group, sell-side analysts anticipate that PennyMac Financial Services will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.22%. PennyMac Financial Services’s payout ratio is 20.55%.

Insider Transactions at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 16,481 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $101.56, for a total value of $1,673,810.36. Following the completion of the sale, the chief financial officer now owns 37,501 shares in the company, valued at $3,808,601.56. This represents a 30.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Doug Jones sold 8,373 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.95, for a total transaction of $862,000.35. Following the completion of the sale, the director now owns 19,056 shares of the company’s stock, valued at approximately $1,961,815.20. The trade was a 30.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 150,697 shares of company stock worth $15,327,924 in the last quarter. 16.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after buying an additional 51,777 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PennyMac Financial Services by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after buying an additional 21,751 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of PennyMac Financial Services in the 3rd quarter worth about $614,000. HighTower Advisors LLC purchased a new position in shares of PennyMac Financial Services in the 3rd quarter worth about $702,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of PennyMac Financial Services in the 3rd quarter worth about $24,644,000. 57.87% of the stock is 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.