PennyMac Financial Services (NYSE:PFSI) Upgraded to “Hold” at StockNews.com

PennyMac Financial Services (NYSE:PFSI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also recently issued reports on PFSI. Wedbush increased their target price on shares of PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on PennyMac Financial Services in a report on Wednesday, January 10th. They set a “buy” rating and a $115.00 price objective for the company. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and raised their price target for the company from $100.00 to $105.00 in a research report on Tuesday. Finally, Barclays lifted their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $98.13.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $87.55 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90. PennyMac Financial Services has a 12-month low of $56.16 and a 12-month high of $94.78. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 0.60 and a beta of 1.67. The stock has a 50 day simple moving average of $88.19 and a 200-day simple moving average of $81.29.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.75. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. The company had revenue of $361.94 million during the quarter, compared to the consensus estimate of $413.35 million. On average, equities analysts forecast that PennyMac Financial Services will post 10.19 EPS for the current year.

Insider Activity

In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the transaction, the insider now owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the sale, the insider now directly owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Spector sold 26,451 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the transaction, the chief executive officer now directly owns 647,938 shares of the company’s stock, valued at approximately $55,755,064.90. The disclosure for this sale can be found here. Insiders sold a total of 92,802 shares of company stock valued at $8,025,358 over the last 90 days. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PFSI. Citigroup Inc. increased its stake in PennyMac Financial Services by 100.7% during the first quarter. Citigroup Inc. now owns 5,768 shares of the real estate investment trust’s stock worth $344,000 after acquiring an additional 850,545 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in PennyMac Financial Services by 7,011.7% in the first quarter. Envestnet Asset Management Inc. now owns 801,420 shares of the real estate investment trust’s stock valued at $5,283,000 after buying an additional 790,151 shares during the period. MFN Partners Management LP lifted its position in PennyMac Financial Services by 14.0% during the first quarter. MFN Partners Management LP now owns 4,531,792 shares of the real estate investment trust’s stock valued at $241,091,000 after buying an additional 556,274 shares in the last quarter. JPMorgan Chase & Co. lifted its position in PennyMac Financial Services by 205.8% during the first quarter. JPMorgan Chase & Co. now owns 282,036 shares of the real estate investment trust’s stock valued at $16,812,000 after buying an additional 548,677 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in PennyMac Financial Services by 322.3% during the first quarter. Goldman Sachs Group Inc. now owns 706,965 shares of the real estate investment trust’s stock worth $37,610,000 after buying an additional 539,539 shares during the period. 57.87% of the stock is owned by hedge funds and other institutional investors.

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. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.