PennyMac Financial Services (NYSE:PFSI) PT Raised to $102.00 at Keefe, Bruyette & Woods

PennyMac Financial Services (NYSE:PFSI) had its price objective increased by stock analysts at Keefe, Bruyette & Woods from $100.00 to $102.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 3.60% from the stock’s current price.

PFSI has been the subject of several other reports. Wedbush reiterated an “outperform” rating and set a $110.00 price objective on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Barclays increased their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, PennyMac Financial Services has a consensus rating of “Moderate Buy” and an average target price of $98.00.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $98.46 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. The company has a market cap of $5.01 billion, a PE ratio of 34.19, a PEG ratio of 0.60 and a beta of 1.72. PennyMac Financial Services has a 12-month low of $62.15 and a 12-month high of $98.87. The business’s fifty day simple moving average is $92.10 and its 200-day simple moving average is $89.25.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The company had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. Analysts expect that PennyMac Financial Services will post 10.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $93.16, for a total transaction of $931,600.00. Following the sale, the chief executive officer now owns 240,604 shares in the company, valued at $22,414,668.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total value of $931,600.00. Following the completion of the sale, the chief executive officer now directly owns 240,604 shares in the company, valued at $22,414,668.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total value of $1,048,800.00. Following the transaction, the chief financial officer now owns 246,497 shares in the company, valued at approximately $22,677,724. The disclosure for this sale can be found here. Insiders sold a total of 87,865 shares of company stock valued at $8,045,169 in the last three months. 16.60% of the stock is currently owned by corporate insiders.

Institutional Trading of PennyMac Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. boosted its holdings in PennyMac Financial Services by 0.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 139,882 shares of the real estate investment trust’s stock worth $12,742,000 after buying an additional 1,190 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of PennyMac Financial Services in the first quarter worth approximately $1,785,000. CANADA LIFE ASSURANCE Co increased its position in shares of PennyMac Financial Services by 3.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 23,433 shares of the real estate investment trust’s stock worth $2,134,000 after purchasing an additional 689 shares in the last quarter. Cynosure Group LLC acquired a new position in PennyMac Financial Services in the 1st quarter valued at $323,000. Finally, Edgestream Partners L.P. lifted its holdings in PennyMac Financial Services by 349.5% in the 1st quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust’s stock valued at $2,166,000 after purchasing an additional 18,485 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Company Profile

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