PennyMac Financial Services (PFSI) Set to Announce Earnings on Thursday

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PennyMac Financial Services (NYSE:PFSI – Get Rating) will be issuing its quarterly earnings data after the market closes on Thursday, February 2nd. Analysts expect the company to announce earnings of $1.22 per share for the quarter.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $1.34. The business had revenue of $476.29 million during the quarter, compared to analyst estimates of $419.60 million. PennyMac Financial Services had a net margin of 26.12% and a return on equity of 19.77%. On average, analysts expect PennyMac Financial Services to post $9 EPS for the current fiscal year and $7 EPS for the next fiscal year.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $65.85 on Friday. The company has a market capitalization of $3.30 billion, a PE ratio of 6.29 and a beta of 1.39. PennyMac Financial Services has a one year low of $38.53 and a one year high of $66.02. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.70 and a quick ratio of 0.70. The company’s fifty day moving average price is $59.03 and its 200 day moving average price is $54.12.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 40,000 shares of the stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $58.67, for a total value of $2,346,800.00. Following the transaction, the director now directly owns 177,031 shares of the company’s stock, valued at approximately $10,386,408.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO David Spector sold 40,735 shares of PennyMac Financial Services stock in a transaction that occurred 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 $36,904,136.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph F. Mazzella sold 40,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $58.67, for a total transaction of $2,346,800.00. Following the completion of the transaction, the director now directly owns 177,031 shares in the company, valued at $10,386,408.77. The disclosure for this sale can be found here. Insiders have sold a total of 161,426 shares of company stock valued at $9,126,641 in the last three months. 18.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PFSI. Captrust Financial Advisors increased its stake in PennyMac Financial Services by 75.9% in the second quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust’s stock valued at $126,000 after acquiring an additional 1,247 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in PennyMac Financial Services by 19.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock valued at $156,000 after acquiring an additional 486 shares during the last quarter. Advisors Asset Management Inc. bought a new position in PennyMac Financial Services in the first quarter valued at approximately $168,000. Ensign Peak Advisors Inc boosted its position in PennyMac Financial Services by 173.3% in the third quarter. Ensign Peak Advisors Inc now owns 4,700 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 2,980 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in PennyMac Financial Services by 13.7% in the first quarter. Neuberger Berman Group LLC now owns 3,914 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 472 shares in the last quarter. 67.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

PFSI has been the topic of several research reports. JMP Securities downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 18th. Piper Sandler boosted their target price on PennyMac Financial Services from $78.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, October 28th. Barclays lowered shares of PennyMac Financial Services from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $55.00 to $58.00 in a report on Friday, January 6th. Wells Fargo & Company upgraded PennyMac Financial Services from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $75.00 in a report on Tuesday, December 6th. Finally, StockNews.com raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.67.

About PennyMac Financial Services

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PennyMac Financial Services, Inc operates as a holding company. The firm engages in the production and servicing of U.S. residential mortgage loans. It operates through the following segments: Production, Servicing, and Investment Management. The Production segment includes mortgage loan origination, acquisition, and sale activities.