PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $121.17 Consensus PT from Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $121.17.

Several analysts recently issued reports on the stock. Piper Sandler cut their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a report on Tuesday, April 8th. UBS Group dropped their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their target price on shares of PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th.

Insider Buying and Selling at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $99.45, for a total transaction of $1,044,225.00. Following the completion of the transaction, the chief financial officer now directly owns 234,025 shares of the company’s stock, valued at approximately $23,273,786.25. This represents a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $98.29, for a total value of $491,450.00. Following the transaction, the chief executive officer now directly owns 140,604 shares of the company’s stock, valued at $13,819,967.16. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,910 shares of company stock worth $3,671,336 over the last 90 days. Insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its stake in PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 113 shares during the last quarter. Strs Ohio bought a new position in shares of PennyMac Financial Services during the first quarter worth about $30,000. TD Waterhouse Canada Inc. bought a new position in shares of PennyMac Financial Services during the fourth quarter worth about $39,000. Sterling Capital Management LLC grew its position in shares of PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 343 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new position in shares of PennyMac Financial Services during the fourth quarter worth about $71,000. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Up 1.7%

Shares of NYSE PFSI opened at $97.02 on Thursday. PennyMac Financial Services has a 1 year low of $85.74 and a 1 year high of $119.13. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.19 and a beta of 1.55. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s 50-day simple moving average is $96.55 and its 200-day simple moving average is $100.02.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. The business had revenue of $430.90 million for the quarter, compared to analysts’ expectations of $520.42 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. As a group, equities analysts anticipate that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.30 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.24%. PennyMac Financial Services’s payout ratio is 18.40%.

PennyMac Financial Services Company Profile

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.