ValuEngine Upgrades PennyMac Financial Services (PFSI) to Buy

PennyMac Financial Services (NYSE:PFSI) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Compass Point restated a “hold” rating and issued a $23.00 target price on shares of PennyMac Financial Services in a research note on Tuesday, August 7th. Finally, Barclays set a $24.00 target price on shares of PennyMac Financial Services and gave the company a “buy” rating in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $24.60.

PennyMac Financial Services stock opened at $20.27 on Wednesday. PennyMac Financial Services has a 52-week low of $18.20 and a 52-week high of $25.20. The firm has a market capitalization of $488.97 million, a PE ratio of 9.21, a price-to-earnings-growth ratio of 0.79 and a beta of 0.55. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.27.



PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, August 2nd. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.04. PennyMac Financial Services had a net margin of 11.03% and a return on equity of 3.91%. The company had revenue of $244.30 million during the quarter, compared to analyst estimates of $241.49 million. Research analysts anticipate that PennyMac Financial Services will post 2.48 EPS for the current fiscal year.

In other news, Director Matthew Botein sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $21.12, for a total value of $211,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anne Mccallion sold 5,000 shares of the company’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $19.37, for a total transaction of $96,850.00. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $1,040,850 over the last 90 days. Insiders own 42.06% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Strs Ohio boosted its stake in shares of PennyMac Financial Services by 9.7% in the second quarter. Strs Ohio now owns 32,800 shares of the real estate investment trust’s stock valued at $644,000 after purchasing an additional 2,900 shares during the period. BlueMountain Capital Management LLC boosted its stake in PennyMac Financial Services by 5.7% during the 2nd quarter. BlueMountain Capital Management LLC now owns 76,485 shares of the real estate investment trust’s stock valued at $1,503,000 after acquiring an additional 4,140 shares during the last quarter. Globeflex Capital L P boosted its stake in PennyMac Financial Services by 7.2% during the 2nd quarter. Globeflex Capital L P now owns 62,661 shares of the real estate investment trust’s stock valued at $1,231,000 after acquiring an additional 4,182 shares during the last quarter. Rhumbline Advisers boosted its stake in PennyMac Financial Services by 28.4% during the 2nd quarter. Rhumbline Advisers now owns 19,822 shares of the real estate investment trust’s stock valued at $390,000 after acquiring an additional 4,387 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in PennyMac Financial Services by 25.8% during the 2nd quarter. First Trust Advisors LP now owns 25,310 shares of the real estate investment trust’s stock valued at $497,000 after acquiring an additional 5,195 shares during the last quarter. Institutional investors and hedge funds own 90.35% of the company’s stock.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

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Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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