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.
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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