PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Rating of "Moderate Buy" by Analysts

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Shares of PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $67.17.

PFSI has been the subject of a number of recent research reports. StockNews.com began coverage on PennyMac Financial Services in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company upgraded shares of PennyMac Financial Services from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $75.00 in a research report on Tuesday, December 6th. Barclays cut their price objective on shares of PennyMac Financial Services from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Monday, October 17th. Finally, Piper Sandler raised their target price on PennyMac Financial Services from $78.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, October 28th.

Insider Transactions at PennyMac Financial Services

In other news, insider Derek Stark sold 7,500 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $53.86, for a total transaction of $403,950.00. Following the sale, the insider now owns 46,820 shares in the company, valued at $2,521,725.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other PennyMac Financial Services news, CEO David Spector sold 40,735 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $54.24, for a total value of $2,209,466.40. Following the sale, the chief executive officer now owns 680,386 shares of the company’s stock, valued at approximately $36,904,136.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Derek Stark sold 7,500 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $53.86, for a total value of $403,950.00. Following the transaction, the insider now owns 46,820 shares of the company’s stock, valued at $2,521,725.20. The disclosure for this sale can be found here. Insiders sold a total of 161,426 shares of company stock valued at $9,126,641 over the last 90 days. Company insiders own 18.00% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

A number of hedge funds have recently bought and sold shares of PFSI. Bank of New York Mellon Corp grew its position in PennyMac Financial Services by 3.9% in the third quarter. Bank of New York Mellon Corp now owns 247,412 shares of the real estate investment trust’s stock worth $10,614,000 after acquiring an additional 9,398 shares in the last quarter. BNP Paribas Arbitrage SNC increased its position in shares of PennyMac Financial Services by 90.2% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 20,535 shares of the real estate investment trust’s stock valued at $881,000 after purchasing an additional 9,737 shares during the last quarter. Alliancebernstein L.P. raised its holdings in PennyMac Financial Services by 3.0% during the 3rd quarter. Alliancebernstein L.P. now owns 442,002 shares of the real estate investment trust’s stock valued at $18,962,000 after buying an additional 13,000 shares during the period. Algert Global LLC bought a new stake in PennyMac Financial Services in the third quarter worth $359,000. Finally, Twinbeech Capital LP boosted its stake in PennyMac Financial Services by 237.4% during the third quarter. Twinbeech Capital LP now owns 97,959 shares of the real estate investment trust’s stock worth $4,202,000 after buying an additional 68,925 shares during the period. Hedge funds and other institutional investors own 67.03% of the company’s stock.

PennyMac Financial Services Trading Down 1.0 %

Shares of PFSI stock opened at $56.66 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.62. PennyMac Financial Services has a 12-month low of $38.53 and a 12-month high of $71.45. The stock has a market capitalization of $2.84 billion, a P/E ratio of 5.41 and a beta of 1.40. The firm’s 50 day moving average is $55.39 and its 200 day moving average is $51.77.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The real estate investment trust reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $1.34. PennyMac Financial Services had a return on equity of 19.77% and a net margin of 26.12%. The firm had revenue of $476.29 million for the quarter, compared to the consensus estimate of $419.60 million. Research analysts expect that PennyMac Financial Services will post 8.57 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Monday, November 14th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $0.80 dividend on an annualized basis and a yield of 1.41%. PennyMac Financial Services’s dividend payout ratio is presently 7.64%.

PennyMac Financial Services Company Profile

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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.