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

PennyMac Financial Services, Inc. (NYSE:PFSI) has received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $83.00.

A number of analysts have recently weighed in on PFSI shares. Jefferies Financial Group started coverage on shares of PennyMac Financial Services in a report on Monday, July 17th. They set a “buy” rating and a $85.00 target price for the company. Wedbush increased their target price on shares of PennyMac Financial Services from $80.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. TheStreet upgraded shares of PennyMac Financial Services from a “c+” rating to a “b-” rating in a report on Wednesday, August 16th. BTIG Research increased their target price on shares of PennyMac Financial Services from $65.00 to $85.00 in a report on Tuesday, July 18th. Finally, Piper Sandler raised their price objective on shares of PennyMac Financial Services from $82.00 to $89.00 in a report on Tuesday, June 13th.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $68.10, for a total transaction of $1,021,500.00. Following the completion of the transaction, the chief executive officer now owns 390,604 shares of the company’s stock, valued at $26,600,132.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Daniel Stanley Perotti sold 7,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $72.37, for a total transaction of $550,012.00. Following the completion of the sale, the chief financial officer now owns 280,697 shares of the company’s stock, valued at $20,314,041.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Spector sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $68.10, for a total transaction of $1,021,500.00. Following the sale, the chief executive officer now directly owns 390,604 shares of the company’s stock, valued at approximately $26,600,132.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,600 shares of company stock valued at $3,875,512. Corporate insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in PFSI. Acadian Asset Management LLC bought a new stake in shares of PennyMac Financial Services during the first quarter valued at approximately $519,000. MetLife Investment Management LLC grew its position in PennyMac Financial Services by 39.6% in the 1st quarter. MetLife Investment Management LLC now owns 15,934 shares of the real estate investment trust’s stock worth $848,000 after purchasing an additional 4,522 shares during the period. LSV Asset Management grew its position in PennyMac Financial Services by 12.3% in the 1st quarter. LSV Asset Management now owns 53,212 shares of the real estate investment trust’s stock worth $2,831,000 after purchasing an additional 5,846 shares during the period. Dimensional Fund Advisors LP grew its position in PennyMac Financial Services by 93.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 783,884 shares of the real estate investment trust’s stock worth $41,703,000 after purchasing an additional 379,161 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in PennyMac Financial Services by 19.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 486 shares during the period. Institutional investors own 59.12% of the company’s stock.

PennyMac Financial Services Stock Up 0.1 %

PFSI opened at $70.07 on Friday. The stock has a market cap of $3.49 billion, a PE ratio of 14.45 and a beta of 1.50. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.74. PennyMac Financial Services has a 52 week low of $41.76 and a 52 week high of $82.92. The business’s fifty day simple moving average is $73.13 and its 200 day simple moving average is $65.84.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $1.11 EPS for the quarter, meeting analysts’ consensus estimates of $1.11. The business had revenue of $336.55 million for the quarter, compared to analysts’ expectations of $391.93 million. PennyMac Financial Services had a return on equity of 7.80% and a net margin of 17.95%. As a group, research analysts expect that PennyMac Financial Services will post 5 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, August 14th. PennyMac Financial Services’s dividend payout ratio is 16.49%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.