PennyMac Financial Services (NYSE:PFSI) Hits New 1-Year High at $27.12

Shares of PennyMac Financial Services Inc (NYSE:PFSI) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $27.12 and last traded at $26.77, with a volume of 256330 shares changing hands. The stock had previously closed at $26.57.

A number of brokerages recently weighed in on PFSI. Zacks Investment Research upgraded shares of PennyMac Financial Services from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a report on Wednesday, July 17th. TheStreet raised shares of PennyMac Financial Services from a “c+” rating to a “b+” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.50.

The business’s 50-day moving average price is $24.15 and its 200-day moving average price is $22.80. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market cap of $2.09 billion, a P/E ratio of 9.84, a P/E/G ratio of 0.79 and a beta of 0.48.



PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, August 1st. The real estate investment trust reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.15. The company had revenue of $302.98 million during the quarter, compared to the consensus estimate of $267.80 million. PennyMac Financial Services had a net margin of 16.34% and a return on equity of 9.76%. As a group, equities research analysts expect that PennyMac Financial Services Inc will post 3.36 earnings per share for the current year.

In related news, insider Anne Mccallion sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $21.51, for a total value of $107,550.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Botein sold 40,000 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $21.87, for a total transaction of $874,800.00. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock valued at $3,950,090 in the last ninety days. 22.17% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in PennyMac Financial Services by 8.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,080,275 shares of the real estate investment trust’s stock worth $134,860,000 after buying an additional 472,076 shares during the period. Par Capital Management Inc. boosted its holdings in PennyMac Financial Services by 25.6% in the 2nd quarter. Par Capital Management Inc. now owns 950,000 shares of the real estate investment trust’s stock worth $21,071,000 after buying an additional 193,700 shares during the period. Long Pond Capital LP boosted its holdings in PennyMac Financial Services by 202.8% in the 1st quarter. Long Pond Capital LP now owns 757,000 shares of the real estate investment trust’s stock worth $16,836,000 after buying an additional 507,000 shares during the period. Bayview Asset Management LLC boosted its holdings in PennyMac Financial Services by 26.1% in the 2nd quarter. Bayview Asset Management LLC now owns 459,920 shares of the real estate investment trust’s stock worth $10,201,000 after buying an additional 95,246 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in PennyMac Financial Services by 21.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 408,353 shares of the real estate investment trust’s stock worth $9,139,000 after buying an additional 71,075 shares during the period. 30.92% of the stock is owned by institutional investors.

About PennyMac Financial Services (NYSE:PFSI)

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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