PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $107.17.

PFSI has been the topic of several research reports. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research note on Monday, July 22nd. Wedbush boosted their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Piper Sandler boosted their target price on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Barclays boosted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th.

Insiders Place Their Bets

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $90.56, for a total value of $905,600.00. Following the transaction, the chief executive officer now directly owns 230,604 shares in the company, valued at approximately $20,883,498.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $90.56, for a total value of $905,600.00. Following the transaction, the chief executive officer now directly owns 230,604 shares in the company, valued at approximately $20,883,498.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Doug Jones sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $91.49, for a total value of $2,744,700.00. Following the completion of the transaction, the director now owns 480,000 shares in the company, valued at $43,915,200. The disclosure for this sale can be found here. Insiders have sold 71,400 shares of company stock worth $6,551,300 in the last ninety days. 16.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the company. USA Financial Formulas purchased a new position in shares of PennyMac Financial Services in the 4th quarter worth about $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of PennyMac Financial Services in the 4th quarter worth about $36,000. Blue Trust Inc. boosted its holdings in shares of PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in shares of PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Up 2.8 %

PFSI stock opened at $97.99 on Monday. The stock’s fifty day simple moving average is $94.42 and its two-hundred day simple moving average is $90.64. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $105.94. The stock has a market cap of $4.99 billion, a P/E ratio of 34.02, a P/E/G ratio of 0.64 and a beta of 1.72.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.78% and a net margin of 13.13%. The business had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. During the same period in the prior year, the firm posted $1.11 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts expect that PennyMac Financial Services will post 10.54 EPS for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th will be paid a $0.30 dividend. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio is currently 27.78%.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.