PennyMac Financial Services (NYSE:PFSI) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of PennyMac Financial Services (NYSE:PFSIFree Report) from a sell rating to a hold rating in a report released on Wednesday.

Other equities research analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an outperform rating for the company in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of 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. Barclays increased their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. Finally, Wedbush reiterated an outperform rating and set a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $97.75.

Get Our Latest Stock Analysis on PennyMac Financial Services

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $92.34 on Wednesday. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.39 and a quick ratio of 0.39. PennyMac Financial Services has a 1 year low of $62.15 and a 1 year high of $94.80. The company has a market capitalization of $4.70 billion, a PE ratio of 32.06, a P/E/G ratio of 0.60 and a beta of 1.70. The company has a fifty day moving average of $90.61 and a two-hundred day moving average of $88.54.

PennyMac Financial Services (NYSE:PFSIGet Free Report) last released its quarterly earnings data 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 net margin of 10.94% and a return on equity of 10.48%. The company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. As a group, analysts expect that PennyMac Financial Services will post 10.55 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were issued a $0.20 dividend. 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 0.87%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.

Insider Buying and Selling at PennyMac Financial Services

In other news, insider Derek Stark sold 5,255 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $89.44, for a total transaction of $470,007.20. Following the completion of the transaction, the insider now directly owns 27,084 shares of the company’s stock, valued at approximately $2,422,392.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the transaction, the chief executive officer now owns 230,604 shares in the company, valued at approximately $20,883,498.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Derek Stark sold 5,255 shares of PennyMac Financial Services stock in a transaction on Monday, March 25th. The shares were sold at an average price of $89.44, for a total transaction of $470,007.20. Following the completion of the transaction, the insider now owns 27,084 shares in the company, valued at approximately $2,422,392.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,120 shares of company stock valued at $8,501,777. Corporate insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds have recently made changes to their positions in the stock. USA Financial Formulas purchased a new stake in PennyMac Financial Services during the 4th quarter worth $25,000. Hexagon Capital Partners LLC increased its position in shares of PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in shares of PennyMac Financial Services during the 4th quarter valued at about $36,000. TFO Wealth Partners LLC grew its position in shares of PennyMac Financial Services by 16,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,141 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of PennyMac Financial Services during the 1st quarter valued at about $202,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

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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Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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