Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $97.75.
A number of equities analysts have recently weighed in on the company. Wedbush restated an "outperform" rating and issued a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday, April 25th. StockNews.com cut shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Tuesday, May 21st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating on the stock in a report on Thursday, April 25th. Barclays lifted their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating on the stock in a report on Friday, April 26th.
View Our Latest Research Report on PennyMac Financial Services
Insider Buying and Selling at PennyMac Financial Services
In other PennyMac Financial Services news, Director Doug Jones sold 17,079 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $86.10, for a total transaction of $1,470,501.90. Following the sale, the director now owns 23,892 shares of the company's stock, valued at approximately $2,057,101.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Doug Jones sold 17,079 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $86.10, for a total value of $1,470,501.90. Following the transaction, the director now owns 23,892 shares of the company's stock, valued at $2,057,101.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Spector sold 10,000 shares of the company's stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the transaction, the chief executive officer now directly owns 230,604 shares in the company, valued at approximately $20,883,498.24. The disclosure for this sale can be found here. Insiders have sold 136,650 shares of company stock valued at $12,248,387 in the last 90 days. 16.60% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFSI. Swiss National Bank grew its position in PennyMac Financial Services by 0.8% in the third quarter. Swiss National Bank now owns 93,200 shares of the real estate investment trust's stock worth $6,207,000 after acquiring an additional 700 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in PennyMac Financial Services by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 392,798 shares of the real estate investment trust's stock worth $26,160,000 after acquiring an additional 6,855 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in PennyMac Financial Services in the third quarter worth $622,000. Deutsche Bank AG grew its position in PennyMac Financial Services by 13.4% in the third quarter. Deutsche Bank AG now owns 13,409 shares of the real estate investment trust's stock worth $893,000 after acquiring an additional 1,587 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new position in PennyMac Financial Services in the third quarter worth $2,041,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.
PennyMac Financial Services Price Performance
PFSI stock opened at $89.34 on Friday. The company has a market capitalization of $4.55 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 0.58 and a beta of 1.70. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. PennyMac Financial Services has a 52-week low of $62.15 and a 52-week high of $94.80. The business has a 50-day simple moving average of $90.07 and a two-hundred day simple moving average of $87.56.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping 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 firm had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. Research analysts expect that PennyMac Financial Services will post 10.55 EPS for the current fiscal year.
PennyMac Financial Services Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.90%. PennyMac Financial Services's payout ratio is 27.78%.
PennyMac Financial Services Company Profile
(Get Free Report
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.
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