PennyMac Financial Services’ (PFSI) “Hold (C+)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c+) rating on shares of PennyMac Financial Services (NYSE:PFSI) in a research note released on Friday morning,Weiss Ratings reports.

Other research analysts have also recently issued reports about the stock. BTIG Research reiterated a “buy” rating and set a $135.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 22nd. Wall Street Zen upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Monday, September 29th. Wells Fargo & Company lifted their price objective on shares of PennyMac Financial Services from $115.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Piper Sandler lifted their price objective on shares of PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Zacks Research upgraded shares of PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average target price of $138.67.

PennyMac Financial Services Trading Up 0.3%

NYSE:PFSI opened at $125.67 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.01. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 13.54 and a beta of 1.56. The firm has a fifty day simple moving average of $120.69 and a two-hundred day simple moving average of $106.27. PennyMac Financial Services has a 12 month low of $85.74 and a 12 month high of $134.56.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.39. The business had revenue of $632.90 million during the quarter, compared to analysts’ expectations of $573.46 million. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The business’s quarterly revenue was up 53.7% on a year-over-year basis. During the same period last year, the company posted $1.30 earnings per share. Analysts expect that PennyMac Financial Services will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 17th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.93%.

Insider Activity at PennyMac Financial Services

In related news, Director Joseph F. Mazzella sold 7,107 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $108.16, for a total transaction of $768,693.12. Following the transaction, the director directly owned 86,050 shares of the company’s stock, valued at $9,307,168. This trade represents a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anne Mccallion sold 27,771 shares of PennyMac Financial Services stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $131.55, for a total transaction of $3,653,275.05. Following the completion of the sale, the director directly owned 1,547 shares in the company, valued at approximately $203,507.85. This represents a 94.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 173,685 shares of company stock valued at $21,896,093 over the last three months. Insiders own 15.80% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Several hedge funds have recently added to or reduced their stakes in PFSI. Lightrock Netherlands B.V. raised its position in PennyMac Financial Services by 55.1% in the first quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust’s stock worth $13,643,000 after acquiring an additional 48,312 shares during the period. Bank of New York Mellon Corp raised its position in PennyMac Financial Services by 45.9% in the first quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust’s stock worth $29,055,000 after acquiring an additional 91,338 shares during the period. Xponance Inc. bought a new stake in PennyMac Financial Services in the first quarter worth about $202,000. New York State Common Retirement Fund raised its position in PennyMac Financial Services by 1.2% in the first quarter. New York State Common Retirement Fund now owns 71,944 shares of the real estate investment trust’s stock worth $7,202,000 after acquiring an additional 879 shares during the period. Finally, CWM LLC raised its position in PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 113 shares during the period. 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.