Analysts Set PennyMac Financial Services, Inc. (NYSE:PFSI) Target Price at $122.17

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been given an average rating of “Moderate Buy” by the six analysts that are currently 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 1 year target price among analysts that have issued a report on the stock in the last year is $122.17.

Several research firms recently commented on PFSI. Piper Sandler reduced their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th.

PennyMac Financial Services Trading Down 7.7 %

NYSE:PFSI opened at $95.75 on Friday. PennyMac Financial Services has a 52 week low of $83.03 and a 52 week high of $119.13. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.19 and a beta of 1.73. The company’s 50 day moving average price is $101.97 and its 200-day moving average price is $103.96. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, equities research analysts forecast that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio is 20.55%.

Insider Buying and Selling at PennyMac Financial Services

In related news, insider Mark Elbaum sold 410 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $102.88, for a total value of $42,180.80. Following the transaction, the insider now owns 4,207 shares of the company’s stock, valued at approximately $432,816.16. This trade represents a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James Follette sold 1,983 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the sale, the insider now directly owns 10,497 shares of the company’s stock, valued at approximately $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,464 shares of company stock worth $5,037,767 in the last three months. 16.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of PFSI. TD Waterhouse Canada Inc. purchased a new stake in PennyMac Financial Services in the fourth quarter worth about $39,000. Sterling Capital Management LLC increased its holdings in PennyMac Financial Services by 601.8% in the 4th 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 in the last quarter. Aquatic Capital Management LLC purchased a new stake in PennyMac Financial Services in the 4th quarter worth approximately $71,000. Parkside Financial Bank & Trust raised its stake in PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 389 shares during the period. Finally, KBC Group NV lifted its holdings in PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 209 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.