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

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $122.50.

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

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $109.54 on Monday. The company has a market cap of $5.61 billion, a P/E ratio of 34.77, a P/E/G ratio of 0.20 and a beta of 1.78. The firm’s fifty day moving average price is $103.91 and its two-hundred day moving average price is $104.07. PennyMac Financial Services has a one year low of $83.03 and a one year high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38.

Insider Transactions at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction on Friday, November 15th. The stock was sold at an average price of $100.02, for a total value of $1,050,210.00. Following the transaction, the chief financial officer now owns 225,497 shares in the company, valued at approximately $22,554,209.94. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Spector sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total value of $496,900.00. Following the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $16,457,725.52. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,844 shares of company stock valued at $15,079,791. 16.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $37,000. Blue Trust Inc. boosted its stake in shares of PennyMac Financial Services by 59.5% during 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 in the last quarter. KBC Group NV grew its holdings in shares of PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares during the last quarter. Quantbot Technologies LP increased its position in PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares during the period. Finally, Verition Fund Management LLC bought a new position in PennyMac Financial Services during the 3rd quarter worth $203,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.