PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $122.50 Average Price Target from Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $122.50.

A number of equities analysts recently weighed in on PFSI shares. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Barclays increased their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler lifted their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th.

Insider Buying and Selling

In other PennyMac Financial Services news, CEO David Spector sold 61,120 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the sale, the chief executive officer now owns 634,612 shares in the company, valued at approximately $64,552,732.64. This represents a 8.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the completion of the transaction, the chief accounting officer now directly owns 48,040 shares of the company’s stock, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,844 shares of company stock worth $15,658,591 in the last quarter. Company insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services in the 3rd quarter worth approximately $37,000. Blue Trust Inc. grew its position in shares of PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 262 shares during the period. KBC Group NV increased its stake in PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 226 shares during the last quarter. Quantbot Technologies LP lifted its position in PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares during the period. Finally, Verition Fund Management LLC purchased a new position in PennyMac Financial Services during the third quarter worth about $203,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $102.07 on Thursday. PennyMac Financial Services has a one year low of $81.93 and a one year high of $119.13. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 32.40 and a beta of 1.78. The company has a 50-day simple moving average of $103.54 and a 200-day simple moving average of $102.41. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The company had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same period in the prior year, the company earned $1.77 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, analysts predict that PennyMac Financial Services will post 11.88 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

About PennyMac Financial Services

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.