PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Rating of “Hold” by Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $139.7143.

PFSI has been the topic of a number of analyst reports. BTIG Research restated a “buy” rating on shares of PennyMac Financial Services in a report on Friday, January 30th. Keefe, Bruyette & Woods lowered their price objective on PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating for the company in a research note on Monday, February 2nd. Piper Sandler dropped their price objective on PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Weiss Ratings lowered shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group initiated coverage on shares of PennyMac Financial Services in a report on Friday, December 19th. They issued a “buy” rating and a $160.00 target price for the company.

Insiders Place Their Bets

In other news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $94.50, for a total value of $945,000.00. Following the completion of the transaction, the chief executive officer directly owned 90,604 shares of the company’s stock, valued at $8,562,078. This represents a 9.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Daniel Stanley Perotti sold 2,925 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $93.30, for a total value of $272,902.50. Following the sale, the chief financial officer directly owned 213,550 shares of the company’s stock, valued at $19,924,215. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 34,405 shares of company stock worth $4,062,376 over the last 90 days. 15.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in PFSI. Virtu Financial LLC purchased a new stake in PennyMac Financial Services during the fourth quarter worth about $379,000. Invesco Ltd. boosted its stake in PennyMac Financial Services by 7.3% in the fourth quarter. Invesco Ltd. now owns 1,569,184 shares of the real estate investment trust’s stock valued at $206,881,000 after acquiring an additional 106,088 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of PennyMac Financial Services by 5.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 10,167 shares of the real estate investment trust’s stock valued at $1,340,000 after acquiring an additional 504 shares during the period. XTX Topco Ltd purchased a new stake in shares of PennyMac Financial Services during the 4th quarter worth approximately $479,000. Finally, SummitTX Capital L.P. raised its holdings in shares of PennyMac Financial Services by 19.6% in the 4th quarter. SummitTX Capital L.P. now owns 2,795 shares of the real estate investment trust’s stock worth $368,000 after purchasing an additional 459 shares during the period. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Trading Down 2.0%

NYSE:PFSI opened at $90.40 on Tuesday. PennyMac Financial Services has a 12 month low of $85.74 and a 12 month high of $160.36. 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 $4.70 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.52 and a beta of 1.55. The firm has a fifty day simple moving average of $125.12 and a two-hundred day simple moving average of $122.91.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($1.26). PennyMac Financial Services had a return on equity of 10.36% and a net margin of 24.48%.The firm had revenue of $538.01 million for the quarter, compared to analyst estimates of $639.81 million. During the same period in the previous year, the company earned $1.95 earnings per share. PennyMac Financial Services’s revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts expect that PennyMac Financial Services will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Monday, February 16th will be paid a $0.30 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.3%. PennyMac Financial Services’s dividend payout ratio (DPR) is 12.90%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.