PennyMac Financial Services Inc. (PFSI) Insider Sells $163,400.00 in Stock
PennyMac Financial Services Inc. (NYSE:PFSI) insider David M. Walker sold 10,000 shares of the company’s stock in a transaction on Friday, October 7th. The shares were sold at an average price of $16.34, for a total value of $163,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
PennyMac Financial Services Inc. (NYSE:PFSI) opened at 16.02 on Wednesday. The firm has a 50-day moving average price of $16.82 and a 200-day moving average price of $14.12. The firm has a market cap of $355.53 million, a PE ratio of 7.80 and a beta of 0.58. PennyMac Financial Services Inc. has a one year low of $10.48 and a one year high of $18.13.
PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.07. PennyMac Financial Services had a return on equity of 4.30% and a net margin of 6.20%. The business earned $207.81 million during the quarter, compared to the consensus estimate of $196.53 million. During the same period last year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts expect that PennyMac Financial Services Inc. will post $2.47 EPS for the current fiscal year.
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PFSI has been the subject of a number of recent analyst reports. Piper Jaffray Cos. reiterated an “overweight” rating and set a $20.00 target price on shares of PennyMac Financial Services in a research report on Friday, September 9th. Zacks Investment Research downgraded PennyMac Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, September 16th. Citigroup Inc. upped their price objective on PennyMac Financial Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Compass Point downgraded PennyMac Financial Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 28th. Finally, Bank of America Corp. downgraded PennyMac Financial Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.94.
Hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY purchased a new stake in PennyMac Financial Services during the second quarter worth about $139,000. SG Americas Securities LLC purchased a new stake in PennyMac Financial Services during the second quarter worth about $161,000. Societe Generale purchased a new stake in PennyMac Financial Services during the second quarter worth about $161,000. Teachers Advisors Inc. increased its stake in PennyMac Financial Services by 7.7% in the second quarter. Teachers Advisors Inc. now owns 20,232 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 1,447 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in PennyMac Financial Services by 17.4% in the second quarter. Parametric Portfolio Associates LLC now owns 20,649 shares of the real estate investment trust’s stock worth $258,000 after buying an additional 3,053 shares in the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.
PennyMac Financial Services Company Profile
PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. It operates through three segments: loan production, loan servicing and investment management.
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