Posted by MarketBeat News on Jun 9th, 2024
PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $97.75.
PFSI has been the topic of several analyst reports. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Barclays lifted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wedbush restated an “outperform” rating and issued a $110.00 price target on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods dropped their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th.
Read Our Latest Analysis on PFSI
Insider Activity
In other news, insider Derek Stark sold 5,255 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total value of $470,007.20. Following the completion of the sale, the insider now owns 27,084 shares of the company’s stock, valued at approximately $2,422,392.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 16,465 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total value of $1,493,869.45. Following the sale, the director now owns 116,546 shares in the company, valued at approximately $10,574,218.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Derek Stark sold 5,255 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $89.44, for a total transaction of $470,007.20. Following the completion of the transaction, the insider now owns 27,084 shares of the company’s stock, valued at approximately $2,422,392.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,650 shares of company stock worth $12,248,387. Corporate insiders own 16.60% of the company’s stock.
Hedge Funds Weigh In On PennyMac Financial Services
A number of institutional investors have recently bought and sold shares of PFSI. UBS Group AG increased its holdings in PennyMac Financial Services by 40.6% during the 4th quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 23,696 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PennyMac Financial Services in the fourth quarter valued at about $1,019,000. Campbell & CO Investment Adviser LLC lifted its position in PennyMac Financial Services by 165.0% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 24,753 shares of the real estate investment trust’s stock worth $2,187,000 after acquiring an additional 15,412 shares during the period. Federated Hermes Inc. grew its stake in shares of PennyMac Financial Services by 40.0% in the 4th quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust’s stock valued at $5,333,000 after purchasing an additional 17,245 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of PennyMac Financial Services in the third quarter valued at approximately $3,370,000. 57.87% of the stock is owned by hedge funds and other institutional investors.
PennyMac Financial Services Trading Down 1.4 %
Shares of PFSI stock opened at $89.34 on Friday. The business has a 50-day moving average price of $90.07 and a two-hundred day moving average price of $87.56. The firm has a market cap of $4.55 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 0.59 and a beta of 1.70. PennyMac Financial Services has a 12-month low of $62.15 and a 12-month high of $94.80. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33.
PennyMac Financial Services (NYSE:PFSI – Get Free Report) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The company had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. Equities analysts anticipate that PennyMac Financial Services will post 10.55 EPS for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 0.90%. PennyMac Financial Services’s 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.
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