PennyMac Financial Services (NYSE:PFSI) Hits New 52-Week High at $32.36

PennyMac Financial Services Inc (NYSE:PFSI)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $32.36 and last traded at $32.06, with a volume of 7776 shares changing hands. The stock had previously closed at $31.83.

PFSI has been the topic of several analyst reports. Zacks Investment Research raised PennyMac Financial Services from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, July 17th. Credit Suisse Group increased their target price on PennyMac Financial Services from $24.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Wells Fargo & Co raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research note on Thursday, September 5th. TheStreet raised PennyMac Financial Services from a “c+” rating to a “b+” rating in a research note on Wednesday, August 14th. Finally, ValuEngine lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. PennyMac Financial Services currently has an average rating of “Buy” and a consensus price target of $31.00.

The company has a market cap of $2.47 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 0.84 and a beta of 0.38. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a 50-day moving average price of $30.81 and a 200 day moving average price of $25.23.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.15. The company had revenue of $302.98 million for the quarter, compared to analyst estimates of $267.80 million. PennyMac Financial Services had a return on equity of 9.76% and a net margin of 16.34%. Sell-side analysts expect that PennyMac Financial Services Inc will post 3.92 EPS for the current fiscal year.

In related news, Director Anne Mccallion sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $31.44, for a total value of $314,400.00. Also, insider Stanford L. Kurland sold 45,000 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $28.25, for a total value of $1,271,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,000 shares of company stock worth $3,792,000. 22.17% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in PennyMac Financial Services by 8.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,080,275 shares of the real estate investment trust’s stock valued at $134,860,000 after buying an additional 472,076 shares during the last quarter. Par Capital Management Inc. raised its position in PennyMac Financial Services by 25.6% in the 2nd quarter. Par Capital Management Inc. now owns 950,000 shares of the real estate investment trust’s stock valued at $21,071,000 after buying an additional 193,700 shares during the last quarter. Bayview Asset Management LLC raised its position in PennyMac Financial Services by 26.1% in the 2nd quarter. Bayview Asset Management LLC now owns 459,920 shares of the real estate investment trust’s stock valued at $10,201,000 after buying an additional 95,246 shares during the last quarter. JPMorgan Chase & Co. raised its position in PennyMac Financial Services by 21.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 408,353 shares of the real estate investment trust’s stock valued at $9,139,000 after buying an additional 71,075 shares during the last quarter. Finally, Northern Trust Corp raised its position in PennyMac Financial Services by 6.5% in the 2nd quarter. Northern Trust Corp now owns 359,441 shares of the real estate investment trust’s stock valued at $7,973,000 after buying an additional 21,954 shares during the last quarter. 30.45% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Company Profile (NYSE:PFSI)

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

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