PennyMac Financial Services (PFSI) Shares Up 5.5%

PennyMac Financial Services Inc (NYSE:PFSI) shares shot up 5.5% during mid-day trading on Thursday . The stock traded as high as $21.88 and last traded at $21.65. 1,391,080 shares traded hands during trading, an increase of 709% from the average session volume of 171,999 shares. The stock had previously closed at $20.52.

Several research firms recently issued reports on PFSI. Barclays cut their price target on shares of PennyMac Financial Services from $24.00 to $23.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Zacks Investment Research cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Finally, ValuEngine raised shares of PennyMac Financial Services from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $24.60.

The stock has a market cap of $517.10 million, a P/E ratio of 9.84, a P/E/G ratio of 0.81 and a beta of 0.64. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.27.



PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01. The business had revenue of $250.93 million for the quarter, compared to analyst estimates of $232.08 million. PennyMac Financial Services had a net margin of 10.78% and a return on equity of 3.66%. Research analysts expect that PennyMac Financial Services Inc will post 2.53 EPS for the current fiscal year.

In other news, insider Anne Mccallion sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $20.88, for a total value of $104,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 20,000 shares of company stock worth $406,850 over the last quarter. Company insiders own 45.64% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in PennyMac Financial Services by 25.8% during the second quarter. First Trust Advisors LP now owns 25,310 shares of the real estate investment trust’s stock worth $497,000 after acquiring an additional 5,195 shares during the last quarter. Globeflex Capital L P boosted its position in PennyMac Financial Services by 7.2% during the second quarter. Globeflex Capital L P now owns 62,661 shares of the real estate investment trust’s stock worth $1,231,000 after acquiring an additional 4,182 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in PennyMac Financial Services by 75.5% during the second quarter. MetLife Investment Advisors LLC now owns 12,814 shares of the real estate investment trust’s stock worth $252,000 after acquiring an additional 5,514 shares during the last quarter. Meeder Asset Management Inc. boosted its position in PennyMac Financial Services by 126.5% during the third quarter. Meeder Asset Management Inc. now owns 11,186 shares of the real estate investment trust’s stock worth $233,000 after acquiring an additional 6,247 shares during the last quarter. Finally, Long Pond Capital LP acquired a new stake in PennyMac Financial Services during the second quarter worth approximately $12,281,000. Institutional investors and hedge funds own 90.27% of the company’s stock.

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About PennyMac Financial Services (NYSE:PFSI)

PennyMac Financial Services, Inc a specialty financial services company, engages in the mortgage banking and investment management activities in the United States. It is involved in the origination, acquisition, and sale of mortgage loans. The company originates first-lien residential conventional and government-insured or guaranteed mortgage loans to allow customers to purchase or refinance their homes.

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