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PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) has received an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $67.17.
A number of brokerages have recently issued reports on PFSI. Wells Fargo & Company upgraded shares of PennyMac Financial Services from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $75.00 in a research report on Tuesday. Barclays dropped their price objective on shares of PennyMac Financial Services from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, October 17th. Piper Sandler upped their price objective on shares of PennyMac Financial Services from $78.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. Finally, StockNews.com began coverage on shares of PennyMac Financial Services in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.
Insider Buying and Selling at PennyMac Financial Services
In other PennyMac Financial Services news, Director Patrick Kinsella sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $56.75, for a total transaction of $141,875.00. Following the sale, the director now directly owns 34,209 shares in the company, valued at approximately $1,941,360.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO David Spector sold 40,735 shares of the stock in a transaction on Monday, October 31st. The shares were sold at an average price of $54.24, for a total value of $2,209,466.40. Following the transaction, the chief executive officer now directly owns 680,386 shares of the company’s stock, valued at approximately $36,904,136.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick Kinsella sold 2,500 shares of the stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $56.75, for a total transaction of $141,875.00. Following the completion of the transaction, the director now directly owns 34,209 shares in the company, valued at $1,941,360.75. The disclosure for this sale can be found here. Insiders have sold 91,676 shares of company stock worth $5,025,321 in the last ninety days. 18.00% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new position in PennyMac Financial Services during the 2nd quarter worth $25,000. Wipfli Financial Advisors LLC purchased a new position in PennyMac Financial Services during the 3rd quarter worth $44,000. Allspring Global Investments Holdings LLC grew its position in PennyMac Financial Services by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,776 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 250 shares during the last quarter. Captrust Financial Advisors grew its position in PennyMac Financial Services by 75.9% during the 2nd quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 1,247 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of PennyMac Financial Services by 19.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 486 shares during the period. 61.61% of the stock is owned by hedge funds and other institutional investors.
PennyMac Financial Services Price Performance
NYSE:PFSI opened at $58.59 on Wednesday. PennyMac Financial Services has a 52 week low of $38.53 and a 52 week high of $71.52. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 5.60 and a beta of 1.40. The firm’s 50-day simple moving average is $50.86 and its 200 day simple moving average is $50.63. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.70 and a current ratio of 0.70.
PennyMac Financial Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Monday, November 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $0.80 annualized dividend and a yield of 1.37%. PennyMac Financial Services’s dividend payout ratio is presently 7.64%.
About PennyMac Financial Services
(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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