PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Average Recommendation of “Moderate Buy” from Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $107.17.

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a report on Monday, July 22nd. Piper Sandler increased their price target on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wedbush increased their target price on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Barclays raised their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th.

Insider Buying and Selling

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the sale, the chief executive officer now owns 230,604 shares in the company, valued at approximately $20,883,498.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $90.56, for a total value of $905,600.00. Following the sale, the chief executive officer now owns 230,604 shares in the company, valued at $20,883,498.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Doug Jones sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $91.49, for a total transaction of $2,744,700.00. Following the transaction, the director now directly owns 480,000 shares of the company’s stock, valued at $43,915,200. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock worth $6,551,300 in the last 90 days. Insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in shares of PennyMac Financial Services by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock worth $237,851,000 after buying an additional 70,178 shares during the last quarter. Vanguard Group Inc. boosted its position in PennyMac Financial Services by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after purchasing an additional 8,345 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PennyMac Financial Services by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust’s stock worth $35,060,000 after purchasing an additional 3,947 shares during the period. Norges Bank purchased a new position in shares of PennyMac Financial Services during the 4th quarter valued at approximately $31,258,000. Finally, Boston Partners acquired a new position in shares of PennyMac Financial Services in the 4th quarter valued at $28,191,000. 57.87% of the stock is owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Up 2.8 %

Shares of PennyMac Financial Services stock opened at $97.99 on Monday. PennyMac Financial Services has a 1 year low of $62.15 and a 1 year high of $105.94. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.39. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 0.62 and a beta of 1.72. The firm’s 50-day moving average is $94.42 and its two-hundred day moving average is $90.74.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The business had revenue of $406.13 million for the quarter, compared to the consensus estimate of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. PennyMac Financial Services’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 earnings per share. As a group, research analysts expect that PennyMac Financial Services will post 10.54 earnings per share for the current fiscal year.

PennyMac Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. PennyMac Financial Services’s payout ratio is 27.78%.

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.