PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Recommendation of “Moderate Buy” by Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $107.17.

PFSI has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price for the company. in a report on Monday, July 22nd. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Finally, Wedbush boosted their target price on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $112.47 on Tuesday. The company has a market cap of $5.73 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 0.75 and a beta of 1.77. PennyMac Financial Services has a 12 month low of $62.15 and a 12 month high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The company has a 50-day simple moving average of $103.05 and a 200-day simple moving average of $95.00.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The firm had revenue of $406.13 million for the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.11 earnings per share. On average, equities analysts anticipate that PennyMac Financial Services will post 10.61 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.07%. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. PennyMac Financial Services’s payout ratio is 41.67%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total transaction of $920,600.00. Following the transaction, the chief executive officer now directly owns 220,604 shares of the company’s stock, valued at $20,308,804.24. The sale was disclosed in a filing with the SEC, which is available at this link. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total transaction of $920,600.00. Following the transaction, the chief executive officer now directly owns 220,604 shares of the company’s stock, valued at $20,308,804.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the transaction, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. The disclosure for this sale can be found here. Insiders have sold a total of 79,355 shares of company stock valued at $8,306,734 over the last ninety days. Corporate insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of PennyMac Financial Services by 1,529.6% during the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 109 shares during the last quarter. TFO Wealth Partners LLC increased its stake in shares of PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 1,141 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of PennyMac Financial Services in the first quarter worth $202,000. Finally, Virtu Financial LLC bought a new stake in shares of PennyMac Financial Services in the fourth quarter worth $253,000. 57.87% of the stock is owned by institutional investors and hedge funds.

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.