PennyMac Financial Services (NYSE:PFSI) Hits New 1-Year High at $33.65

PennyMac Financial Services Inc (NYSE:PFSI)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $33.65 and last traded at $33.60, with a volume of 242769 shares trading hands. The stock had previously closed at $32.15.

Several research firms have weighed in on PFSI. Wells Fargo & Co upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a report on Thursday, September 5th. Barclays reissued a “buy” rating and issued a $37.00 price target on shares of PennyMac Financial Services in a research note on Friday, October 25th. TheStreet raised shares of PennyMac Financial Services from a “c+” rating to a “b+” rating in a research note on Wednesday, August 14th. ValuEngine downgraded shares of PennyMac Financial Services from a “sell” rating to a “strong sell” rating in a research note on Friday, November 8th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $44.00 price target (up from $42.00) on shares of PennyMac Financial Services in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.20.

The business’s 50 day moving average price is $31.40 and its 200-day moving average price is $26.58. The firm has a market capitalization of $2.51 billion, a PE ratio of 12.97, a P/E/G ratio of 0.72 and a beta of 0.36. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.18 and a current ratio of 0.18.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.26. The business had revenue of $436.35 million for the quarter, compared to the consensus estimate of $368.20 million. PennyMac Financial Services had a net margin of 22.54% and a return on equity of 15.84%. As a group, analysts anticipate that PennyMac Financial Services Inc will post 4.43 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, November 14th. PennyMac Financial Services’s dividend payout ratio (DPR) is 18.53%.

In other PennyMac Financial Services news, Chairman Stanford L. Kurland sold 15,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.72, for a total value of $460,800.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Stanford L. Kurland sold 45,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $30.71, for a total transaction of $1,381,950.00. Insiders sold a total of 265,000 shares of company stock worth $8,088,200 over the last three months. Insiders own 22.17% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd raised its stake in shares of PennyMac Financial Services by 179.2% in the second quarter. Point72 Hong Kong Ltd now owns 2,010 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,290 shares in the last quarter. Bank of Montreal Can grew its holdings in PennyMac Financial Services by 490.0% during the second quarter. Bank of Montreal Can now owns 2,602 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 2,161 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in PennyMac Financial Services during the second quarter valued at $65,000. Russell Investments Group Ltd. bought a new position in PennyMac Financial Services during the third quarter valued at $133,000. Finally, SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services in the second quarter worth $102,000. 51.49% of the stock is currently 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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