PennyMac Financial Services, Inc. (NYSE:PFSI) Stock Has Average Target Price of $103.12

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) have been given a consensus recommendation of “Hold” by the ten brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $100.00.

Several equities research analysts recently weighed in on the company. Wall Street Zen cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods lowered their price objective on PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Stephens lowered their price objective on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Wells Fargo & Company dropped their target price on shares of PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of PennyMac Financial Services in a report on Monday, August 3rd.

Read Our Latest Research Report on PFSI

PennyMac Financial Services Stock Up 1.4%

PFSI stock opened at $59.65 on Wednesday. PennyMac Financial Services has a fifty-two week low of $58.45 and a fifty-two week high of $160.36. The business’s 50 day moving average price is $69.82 and its two-hundred day moving average price is $80.06. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 0.58 and a beta of 1.45.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.72). PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.18%. The firm had revenue of $496.96 million during the quarter, compared to analysts’ expectations of $571.60 million. During the same quarter in the previous year, the business earned $2.54 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts forecast that PennyMac Financial Services will post 7.09 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, August 17th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 16.48%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company bought a new stake in PennyMac Financial Services in the second quarter worth $1,713,000. BlueCrest Capital Management Ltd increased its holdings in shares of PennyMac Financial Services by 12.8% during the second quarter. BlueCrest Capital Management Ltd now owns 396,103 shares of the real estate investment trust’s stock valued at $34,501,000 after acquiring an additional 45,008 shares in the last quarter. Legal & General Group Plc bought a new position in shares of PennyMac Financial Services during the second quarter valued at $2,250,000. Donald Smith & CO. Inc. bought a new position in shares of PennyMac Financial Services during the second quarter valued at $163,940,000. Finally, BlackRock Inc. purchased a new position in shares of PennyMac Financial Services in the 2nd quarter worth about $202,735,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Company Profile

(Get Free Report)

PennyMac Financial Services, Inc (NYSE:PFSI) is a financial services company focused on the U.S. residential mortgage market. Through its operating subsidiaries, the company originates, acquires, services and manages investments in residential mortgage loans and related assets.

PennyMac’s business includes mortgage loan production through correspondent and consumer-direct channels, mortgage servicing and loan administration, and investment management activities. Its services support homeowners, mortgage originators and institutional investors across the residential lending lifecycle, including loan fulfillment, servicing and asset management.

The company was established in 2008 and serves customers and business partners throughout the United States.

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Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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