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PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) has earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $79.83.
Several equities research analysts recently weighed in on PFSI shares. BTIG Research started coverage on shares of PennyMac Financial Services in a research report on Wednesday, April 20th. They set a “buy” rating and a $60.00 price target for the company. Barclays cut their target price on shares of PennyMac Financial Services from $103.00 to $90.00 in a research report on Monday, May 9th. Credit Suisse Group cut their target price on shares of PennyMac Financial Services to $66.00 and set a “neutral” rating for the company in a research report on Thursday. StockNews.com raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Piper Sandler cut their target price on shares of PennyMac Financial Services from $117.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, April 5th.
Shares of PFSI opened at $47.65 on Friday. The company has a market capitalization of $2.64 billion, a P/E ratio of 3.82 and a beta of 1.21. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average of $50.00 and a 200 day moving average of $59.32. PennyMac Financial Services has a twelve month low of $44.25 and a twelve month high of $71.52.
PennyMac Financial Services (NYSE:PFSI – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.06. The company had revenue of $657.50 million during the quarter, compared to the consensus estimate of $622.14 million. PennyMac Financial Services had a net margin of 27.78% and a return on equity of 25.12%. The firm’s quarterly revenue was down 30.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.15 earnings per share. On average, sell-side analysts expect that PennyMac Financial Services will post 8.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Stockholders of record on Tuesday, May 17th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, May 16th. PennyMac Financial Services’s dividend payout ratio is presently 6.42%.
In related news, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction on Wednesday, February 23rd. The shares were sold at an average price of $57.23, for a total transaction of $858,450.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CIO Vandad Fartaj sold 2,500 shares of PennyMac Financial Services stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $45.16, for a total transaction of $112,900.00. Following the transaction, the executive now owns 108,634 shares in the company, valued at approximately $4,905,911.44. The disclosure for this sale can be found here. Insiders have sold a total of 64,750 shares of company stock worth $3,423,927 in the last quarter. Corporate insiders own 18.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. purchased a new position in shares of PennyMac Financial Services during the 1st quarter valued at $168,000. Quantbot Technologies LP bought a new stake in PennyMac Financial Services in the 1st quarter valued at $281,000. Goldman Sachs Group Inc. increased its holdings in PennyMac Financial Services by 322.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 706,965 shares of the real estate investment trust’s stock valued at $37,610,000 after acquiring an additional 539,539 shares during the last quarter. Graham Capital Management L.P. increased its holdings in PennyMac Financial Services by 157.2% in the 1st quarter. Graham Capital Management L.P. now owns 13,004 shares of the real estate investment trust’s stock valued at $691,000 after acquiring an additional 7,948 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in PennyMac Financial Services by 13.5% in the 1st quarter. Renaissance Technologies LLC now owns 498,800 shares of the real estate investment trust’s stock valued at $26,536,000 after acquiring an additional 59,300 shares during the last quarter. Institutional investors own 62.61% of the company’s stock.
PennyMac Financial Services Company Profile (Get Rating)
PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It 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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