Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $97.75.
A number of analysts have recently weighed in on PFSI shares. Deutsche Bank Aktiengesellschaft cut their target price on 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. Barclays upped their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an "overweight" rating in a research report on Tuesday, April 9th. StockNews.com downgraded PennyMac Financial Services from a "hold" rating to a "sell" rating in a research report on Tuesday, May 21st. Wedbush reiterated an "outperform" rating and set a $110.00 target price on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods cut their target price on 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.
Check Out Our Latest Analysis on PennyMac Financial Services
PennyMac Financial Services Stock Performance
Shares of PFSI stock traded down $1.23 during trading on Friday, reaching $89.34. 152,798 shares of the company's stock were exchanged, compared to its average volume of 172,393. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. The stock has a market capitalization of $4.55 billion, a PE ratio of 31.02, a PEG ratio of 0.58 and a beta of 1.70. PennyMac Financial Services has a twelve month low of $62.15 and a twelve month high of $94.80. The firm's fifty day moving average price is $90.07 and its 200-day moving average price is $87.63.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued 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 return on equity of 10.48% and a net margin of 10.94%. The firm had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. As a group, sell-side analysts anticipate that PennyMac Financial Services will post 10.55 EPS for the current year.
PennyMac Financial Services Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th were paid a $0.20 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.90%. PennyMac Financial Services's payout ratio is 27.78%.
Insider Activity
In other news, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction dated Wednesday, May 15th. The stock was 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 owns 246,497 shares of the company's stock, valued at $22,677,724. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Derek Stark sold 5,255 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 27,084 shares of the company's stock, valued at $2,422,392.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the firm's stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $92.00, for a total value of $1,048,800.00. Following the sale, the chief financial officer now directly owns 246,497 shares of the company's stock, valued at approximately $22,677,724. The disclosure for this sale can be found here. Over the last quarter, insiders sold 136,650 shares of company stock valued at $12,248,387. Company insiders own 16.60% of the company's stock.
Institutional Investors Weigh In On PennyMac Financial Services
Several large investors have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new position in PennyMac Financial Services in the fourth quarter worth approximately $25,000. Hexagon Capital Partners LLC boosted its holdings in PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in PennyMac Financial Services in the fourth quarter worth approximately $36,000. TFO Wealth Partners LLC boosted its holdings in PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust's stock worth $101,000 after acquiring an additional 1,141 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in PennyMac Financial Services in the first quarter worth approximately $202,000. Institutional investors and hedge funds own 57.87% of the company's stock.
About PennyMac Financial Services
(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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