PennyMac Financial Services (NYSE:PFSI) PT Raised to $125.00 at Piper Sandler

PennyMac Financial Services (NYSE:PFSI) had its price target increased by equities research analysts at Piper Sandler from $112.00 to $125.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price target would suggest a potential upside of 9.65% from the stock’s previous close.

PFSI has been the subject of a number of other reports. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target for the company. in a report on Monday, July 22nd. Wedbush raised their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $109.33.

PennyMac Financial Services Stock Up 0.2 %

PennyMac Financial Services stock opened at $114.00 on Tuesday. The stock has a market capitalization of $5.81 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77. PennyMac Financial Services has a 12 month low of $62.15 and a 12 month high of $119.13. The business has a 50 day simple moving average of $104.18 and a 200-day simple moving average of $95.94. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.80). The company had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.11 earnings per share. On average, analysts anticipate that PennyMac Financial Services will post 10.61 EPS for the current fiscal year.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the transaction, the chief executive officer now directly owns 220,604 shares in the company, valued at approximately $20,308,804.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at $20,308,804.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the transaction, the chief financial officer now directly owns 235,997 shares of the company’s stock, valued at $26,651,141.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,855 shares of company stock worth $9,492,499. 16.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 413 shares during the last quarter. Hexagon Capital Partners LLC grew its position in PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 109 shares during the period. TFO Wealth Partners LLC grew its position in PennyMac Financial Services by 16,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 1,141 shares during the period. SG Americas Securities LLC purchased a new stake in PennyMac Financial Services during the first quarter valued at about $202,000. Finally, Cannon Global Investment Management LLC purchased a new stake in PennyMac Financial Services during the second quarter valued at about $255,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.