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
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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