Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seven research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $97.75.
A number of analysts have recently issued reports on PFSI shares. Barclays increased their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday, April 9th. StockNews.com cut PennyMac Financial Services from a "hold" rating to a "sell" rating in a research note on Tuesday, May 21st. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, April 26th. Wedbush reaffirmed an "outperform" rating and set a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday, April 25th.
Get Our Latest Stock Report on PFSI
PennyMac Financial Services Trading Down 1.4 %
Shares of PennyMac Financial Services stock traded down $1.23 on Friday, reaching $89.34. 152,798 shares of the company were exchanged, compared to its average volume of 172,393. 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 fifty-two week low of $62.15 and a fifty-two week high of $94.80. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 0.58 and a beta of 1.70. The stock has a fifty day moving average price of $90.07 and a 200-day moving average price of $87.63.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The company had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. On average, analysts expect that PennyMac Financial Services will post 10.55 EPS for the current year.
PennyMac Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Monday, May 13th. PennyMac Financial Services's payout ratio is 27.78%.
Insider Activity
In related news, CFO Daniel Stanley Perotti sold 11,400 shares of the business's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $92.00, for a total transaction of $1,048,800.00. Following the completion of the transaction, the chief financial officer now owns 246,497 shares of the company's stock, valued at approximately $22,677,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total value of $1,048,800.00. Following the completion of the sale, the chief financial officer now directly owns 246,497 shares of the company's stock, valued at approximately $22,677,724. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Spector sold 26,451 shares of PennyMac Financial Services stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $86.05, for a total value of $2,276,108.55. Following the sale, the chief executive officer now directly owns 647,938 shares in the company, valued at $55,755,064.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,650 shares of company stock valued at $12,248,387. 16.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank lifted its stake in shares of PennyMac Financial Services by 0.8% during the third quarter. Swiss National Bank now owns 93,200 shares of the real estate investment trust's stock valued at $6,207,000 after acquiring an additional 700 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of PennyMac Financial Services by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 392,798 shares of the real estate investment trust's stock worth $26,160,000 after buying an additional 6,855 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in PennyMac Financial Services in the third quarter valued at approximately $622,000. Deutsche Bank AG boosted its stake in PennyMac Financial Services by 13.4% in the third quarter. Deutsche Bank AG now owns 13,409 shares of the real estate investment trust's stock valued at $893,000 after acquiring an additional 1,587 shares during the last quarter. Finally, QRG Capital Management Inc. acquired a new stake in PennyMac Financial Services during the 3rd quarter worth $2,041,000. Institutional investors and hedge funds own 57.87% of the company's stock.
PennyMac Financial Services Company Profile
(Get Free Report
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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