Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been assigned an average recommendation of “Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $19.64.

Several brokerages recently commented on PFSI. Zacks Investment Research raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine lowered shares of PennyMac Financial Services from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 6th. TheStreet lowered shares of PennyMac Financial Services from a “b-” rating to a “c+” rating in a report on Friday, June 2nd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $21.00 price objective on shares of PennyMac Financial Services in a report on Thursday, April 6th.

Shares of PennyMac Financial Services (PFSI) traded up 0.88% on Tuesday, reaching $17.10. 125,381 shares of the company were exchanged. The company’s 50 day moving average is $16.47 and its 200 day moving average is $16.93. The firm has a market capitalization of $399.99 million, a PE ratio of 5.38 and a beta of 0.59. PennyMac Financial Services has a 12-month low of $11.47 and a 12-month high of $19.35.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, May 4th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.64 by $0.17. The business had revenue of $204.50 million during the quarter, compared to analysts’ expectations of $231.82 million. PennyMac Financial Services had a return on equity of 5.19% and a net margin of 7.23%. PennyMac Financial Services’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Analysts forecast that PennyMac Financial Services will post $2.60 earnings per share for the current year.

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In other PennyMac Financial Services news, insider Jeffrey Grogin sold 5,081 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $16.79, for a total transaction of $85,309.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anne Mccallion sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 6th. The shares were sold at an average price of $16.77, for a total transaction of $83,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,608 shares of company stock worth $1,929,841. 45.64% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PFSI. Victory Capital Management Inc. purchased a new position in PennyMac Financial Services during the first quarter valued at approximately $101,000. American International Group Inc. increased its stake in PennyMac Financial Services by 7.2% in the first quarter. American International Group Inc. now owns 8,384 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 562 shares during the period. Menta Capital LLC acquired a new stake in PennyMac Financial Services during the first quarter valued at $202,000. Goldman Sachs Group Inc. increased its stake in PennyMac Financial Services by 18.5% in the first quarter. Goldman Sachs Group Inc. now owns 13,390 shares of the real estate investment trust’s stock valued at $228,000 after buying an additional 2,094 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in PennyMac Financial Services during the first quarter valued at $308,000. 85.84% of the stock is owned by hedge funds and other institutional investors.

About PennyMac Financial Services

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. The Company operates through three segments: loan production, loan servicing and investment management.

Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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