PennyMac Financial Services (NYSE:PFSI – Get Free Report) was downgraded by equities research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, Benzinga reports. They currently have a $80.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $100.00. Keefe, Bruyette & Woods‘s price target would indicate a potential upside of 27.13% from the company’s previous close.
A number of other analysts also recently weighed in on the company. Stephens decreased their price target on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $86.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. BTIG Research cut their price objective on shares of PennyMac Financial Services from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Weiss Ratings lowered PennyMac Financial Services from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Finally, Wells Fargo & Company dropped their price target on PennyMac Financial Services from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, PennyMac Financial Services currently has an average rating of “Hold” and a consensus target price of $89.29.
Check Out Our Latest Analysis on PFSI
PennyMac Financial Services Stock Up 0.0%
PennyMac Financial Services stock opened at $62.93 on Monday. PennyMac Financial Services has a fifty-two week low of $57.52 and a fifty-two week high of $160.36. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 14.14 and a beta of 1.48. The company’s 50 day simple moving average is $66.01 and its 200 day simple moving average is $85.02.
PennyMac Financial Services (NYSE:PFSI – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.22). The business had revenue of $502.00 million for the quarter, compared to analyst estimates of $531.77 million. PennyMac Financial Services had a return on equity of 8.20% and a net margin of 11.72%. The company’s quarterly revenue was down 25.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.37 earnings per share. As a group, sell-side analysts anticipate that PennyMac Financial Services will post 6.78 EPS for the current year.
Hedge Funds Weigh In On PennyMac Financial Services
Institutional investors and hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of PennyMac Financial Services during the second quarter valued at $25,000. Silvant Capital Management LLC purchased a new position in PennyMac Financial Services during the second quarter valued at $34,000. GAMMA Investing LLC raised its holdings in shares of PennyMac Financial Services by 313.2% during the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 332 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in PennyMac Financial Services during the 2nd quarter valued at $41,000. Finally, Covestor Ltd boosted its position in shares of PennyMac Financial Services by 82.0% during the third quarter. Covestor Ltd now owns 770 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 347 shares during the period. Institutional investors own 57.87% of the company’s stock.
PennyMac Financial Services Company Profile
PennyMac Financial Services, Inc (NYSE: PFSI) is a specialty financial services company focused on the U.S. residential mortgage market. Through its subsidiaries, the company originates, acquires, and services residential mortgage loans, with an emphasis on conventional, government-backed, and other mortgage products.
PennyMac’s primary businesses include mortgage production, loan servicing, and investment management. Its production platform acquires and originates loans through correspondent relationships with banks and other lenders, as well as through direct-to-consumer and broker channels.
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