Brokerages Set PennyMac Financial Services, Inc. (NYSE:PFSI) PT at $122.50

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $122.50.

Several equities research analysts have commented on the company. Piper Sandler upped their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods cut their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Wells Fargo & Company raised their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Barclays upped their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00. Following the completion of the sale, the chief executive officer now owns 190,604 shares of the company’s stock, valued at $20,503,272.28. This trade represents a 4.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Doug Jones sold 7,882 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $103.16, for a total value of $813,107.12. Following the completion of the transaction, the director now directly owns 450,000 shares in the company, valued at approximately $46,422,000. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,844 shares of company stock worth $15,658,591 in the last quarter. Company insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of PennyMac Financial Services during the third quarter valued at about $37,000. Blue Trust Inc. boosted its position in shares of PennyMac Financial Services by 59.5% during the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 262 shares during the period. KBC Group NV increased its holdings in PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 226 shares during the last quarter. Quantbot Technologies LP raised its position in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 290 shares during the period. Finally, Verition Fund Management LLC acquired a new position in PennyMac Financial Services during the third quarter worth $203,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 0.7 %

Shares of PennyMac Financial Services stock opened at $102.14 on Thursday. The stock has a market cap of $5.24 billion, a PE ratio of 32.43 and a beta of 1.78. The firm has a fifty day moving average price of $103.48 and a 200 day moving average price of $102.71. PennyMac Financial Services has a 1 year low of $81.93 and a 1 year high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). The company had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $1.77 EPS. Equities research analysts predict that PennyMac Financial Services will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.17%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s payout ratio is currently 38.10%.

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.