PennyMac Financial Services Inc. (PFSI) Given Average Rating of “Hold” by Brokerages
Shares of PennyMac Financial Services Inc. (NYSE:PFSI) have earned an average recommendation of “Hold” from the ten analysts that are covering the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.36.
A number of research analysts recently commented on the company. Compass Point lowered PennyMac Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 28th. Bank of America Corp. lowered PennyMac Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 28th. Zacks Investment Research upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Saturday, September 17th. Citigroup Inc. upped their target price on PennyMac Financial Services from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, September 9th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $20.00 target price on shares of PennyMac Financial Services in a research note on Friday, September 9th.
Shares of PennyMac Financial Services (NYSE:PFSI) traded up 0.49% during midday trading on Wednesday, hitting $16.36. 41,563 shares of the company were exchanged. The firm has a market cap of $363.08 million, a P/E ratio of 7.96 and a beta of 0.58. PennyMac Financial Services has a one year low of $10.48 and a one year high of $18.13. The company’s 50 day moving average price is $16.81 and its 200 day moving average price is $14.29.
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PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The business earned $207.81 million during the quarter, compared to analyst estimates of $196.53 million. PennyMac Financial Services had a return on equity of 4.30% and a net margin of 6.20%. PennyMac Financial Services’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. Equities analysts expect that PennyMac Financial Services will post $2.47 EPS for the current year.
In other news, insider David M. Walker sold 10,000 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $16.16, for a total transaction of $161,600.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Anne Mccallion sold 5,000 shares of the stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $16.24, for a total value of $81,200.00. The disclosure for this sale can be found here. Insiders own 45.97% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. MSI Financial Services Inc acquired a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $121,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of PennyMac Financial Services during the second quarter valued at approximately $139,000. Societe Generale acquired a new stake in shares of PennyMac Financial Services during the second quarter valued at approximately $161,000. SG Americas Securities LLC acquired a new stake in shares of PennyMac Financial Services during the second quarter valued at approximately $161,000. Finally, Teachers Advisors Inc. boosted its stake in shares of 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 valued at $253,000 after buying an additional 1,447 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.
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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