PennyMac Financial Services, Inc. (NYSE:PFSI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $122.17.

PFSI has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods reduced 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 research note on Tuesday, December 10th. Finally, Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $101.80 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $5.22 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78. The company has a 50 day moving average price of $103.80 and a two-hundred day moving average price of $104.76. PennyMac Financial Services has a 12-month low of $83.03 and a 12-month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.80% and a net margin of 19.54%. As a group, equities analysts predict that PennyMac Financial Services will post 13.98 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, February 23rd. Investors of record on Thursday, February 13th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, February 13th. PennyMac Financial Services’s payout ratio is currently 20.55%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $104.95, for a total value of $1,049,500.00. Following the sale, the chief executive officer now owns 170,604 shares of the company’s stock, valued at $17,904,889.80. The trade was a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Doug Jones sold 23,229 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $101.51, for a total transaction of $2,357,975.79. Following the completion of the sale, the director now directly owns 23,892 shares in the company, valued at $2,425,276.92. This trade represents a 49.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,312 shares of company stock worth $12,669,644 in the last ninety days. 16.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter worth about $37,000. TD Waterhouse Canada Inc. acquired a new stake in shares of PennyMac Financial Services during the 4th quarter worth about $39,000. Sterling Capital Management LLC increased its position in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 343 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of PennyMac Financial Services during the 4th quarter worth about $71,000. Finally, Blue Trust Inc. increased 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 in the last quarter. Institutional investors 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.