PennyMac Financial Services (NYSE:PFSI) PT Lowered to $100.00 at Keefe, Bruyette & Woods

PennyMac Financial Services (NYSE:PFSI) had its price objective reduced by Keefe, Bruyette & Woods from $105.00 to $100.00 in a research note published on Friday morning, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other research firms have also commented on PFSI. Deutsche Bank Aktiengesellschaft reduced their price target on PennyMac Financial Services from $115.00 to $112.00 and set a buy rating on the stock in a research report on Thursday. StockNews.com lowered PennyMac Financial Services from a hold rating to a sell rating in a research report on Thursday. Barclays upped their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an overweight rating in a research report on Tuesday, April 9th. Finally, Wedbush reaffirmed an outperform rating and issued a $110.00 target price on shares of PennyMac Financial Services in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $97.75.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $87.00 on Friday. The stock’s 50 day moving average price is $87.83 and its 200 day moving average price is $83.25. The firm has a market capitalization of $4.39 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. PennyMac Financial Services has a one year low of $56.16 and a one year high of $94.78.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, topping the consensus estimate of $2.34 by $0.14. The firm had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. As a group, sell-side analysts expect that PennyMac Financial Services will post 10.58 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.92%. PennyMac Financial Services’s dividend payout ratio (DPR) is 27.78%.

Insider Activity

In other news, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the completion of the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at approximately $22,823,884.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David Spector sold 26,451 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the completion of the transaction, the chief executive officer now directly owns 647,938 shares in the company, valued at approximately $55,755,064.90. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the transaction, the chief financial officer now owns 257,897 shares of the company’s stock, valued at $22,823,884.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,802 shares of company stock worth $7,666,108. 17.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. USA Financial Formulas bought a new position in shares of PennyMac Financial Services in the fourth quarter worth $25,000. Hexagon Capital Partners LLC grew its stake in shares of PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in shares of PennyMac Financial Services in the fourth quarter worth $36,000. Exchange Traded Concepts LLC bought a new position in shares of PennyMac Financial Services in the third quarter worth $57,000. Finally, TFO Wealth Partners LLC grew its stake in shares of PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

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.