PennyMac Financial Services (NYSE:PFSI) Price Target Increased to $125.00 by Analysts at Barclays

PennyMac Financial Services (NYSE:PFSI) had its price target boosted by investment analysts at Barclays from $112.00 to $125.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective suggests a potential upside of 17.62% from the company’s previous close.

A number of other research firms have also commented on PFSI. Wedbush increased their price objective 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 lifted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a research note on Monday, July 22nd. Finally, StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, PennyMac Financial Services has a consensus rating of “Hold” and a consensus price target of $111.50.

PennyMac Financial Services Stock Down 0.7 %

Shares of NYSE PFSI opened at $106.27 on Tuesday. The firm’s 50-day moving average is $105.55 and its two-hundred day moving average is $96.89. The company has a market capitalization of $5.41 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77. PennyMac Financial Services has a 12-month low of $62.15 and a 12-month high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The company had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. PennyMac Financial Services’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.11 EPS. Equities analysts anticipate that PennyMac Financial Services will post 10.61 EPS for the current fiscal year.

Insider Buying and Selling

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the sale, the director now owns 105,446 shares of the company’s stock, valued at approximately $10,325,272.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $99.31, for a total value of $993,100.00. Following the transaction, the chief executive officer now directly owns 210,604 shares of the company’s stock, valued at $20,915,083.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph F. Mazzella sold 11,396 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value of $1,115,896.32. Following the completion of the sale, the director now directly owns 105,446 shares of the company’s stock, valued at $10,325,272.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,855 shares of company stock valued at $8,571,899. 16.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Several hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC grew its position in PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 109 shares in the last quarter. QRG Capital Management Inc. increased its stake in PennyMac Financial Services by 0.7% during the 1st quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust’s stock worth $3,087,000 after buying an additional 232 shares during the period. MorganRosel Wealth Management LLC increased its stake in PennyMac Financial Services by 2.2% during the 1st quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock worth $985,000 after buying an additional 236 shares during the period. Arizona State Retirement System lifted its holdings in PennyMac Financial Services by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock worth $1,135,000 after buying an additional 336 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in PennyMac Financial Services by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 4,587 shares of the real estate investment trust’s stock valued at $418,000 after buying an additional 361 shares during the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.