PennyMac Financial Services (NYSE:PFSI) Given New $100.00 Price Target at Keefe, Bruyette & Woods

PennyMac Financial Services (NYSE:PFSI) had its target price lowered by stock analysts at Keefe, Bruyette & Woods from $105.00 to $100.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 14.94% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Wedbush reaffirmed an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a report on Thursday. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Thursday. Barclays lifted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services presently has an average rating of “Moderate Buy” and an average target price of $97.75.

PennyMac Financial Services Trading Up 0.9 %

Shares of PennyMac Financial Services stock opened at $87.00 on Friday. The business has a fifty day simple moving average of $87.83 and a two-hundred day simple moving average of $83.15. PennyMac Financial Services has a 1 year low of $56.16 and a 1 year high of $94.78. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 0.56 and a beta of 1.67. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. The business had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. Research analysts forecast that PennyMac Financial Services will post 10.58 EPS for the current year.

Insider Buying and Selling

In related news, CFO Daniel Stanley Perotti sold 11,400 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the transaction, the chief financial officer now owns 257,897 shares in the company, valued at $22,823,884.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the transaction, the chief executive officer now owns 250,604 shares in the company, valued at $22,734,794.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the transaction, the chief financial officer now directly owns 257,897 shares of the company’s stock, valued at approximately $22,823,884.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,802 shares of company stock worth $7,666,108. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PFSI. Norges Bank acquired a new position in PennyMac Financial Services during the fourth quarter worth about $31,258,000. Boston Partners acquired a new position in PennyMac Financial Services during the fourth quarter worth about $28,191,000. Jacobs Levy Equity Management Inc. acquired a new position in PennyMac Financial Services during the third quarter worth about $17,242,000. Invesco Ltd. raised its stake in PennyMac Financial Services by 47.6% during the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock worth $32,654,000 after acquiring an additional 158,181 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in PennyMac Financial Services by 2.7% during 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 acquiring an additional 70,178 shares in the last quarter. Institutional investors and hedge funds 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.