PennyMac Financial Services (PFSI) Given a $27.00 Price Target at Barclays

PennyMac Financial Services (NYSE:PFSI) has been given a $27.00 price target by research analysts at Barclays in a research note issued on Sunday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Barclays’ price objective suggests a potential upside of 23.01% from the stock’s current price.

PFSI has been the subject of a number of other reports. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Zacks Investment Research raised shares of PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Saturday, January 6th. Finally, ValuEngine raised shares of PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $24.00.

PennyMac Financial Services (PFSI) opened at $21.95 on Friday. PennyMac Financial Services has a 52 week low of $15.65 and a 52 week high of $24.00. The company has a market cap of $511.17, a price-to-earnings ratio of 5.41, a price-to-earnings-growth ratio of 1.40 and a beta of 0.64. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.66.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). PennyMac Financial Services had a return on equity of 3.62% and a net margin of 10.55%. The business had revenue of $298.63 million during the quarter, compared to analysts’ expectations of $238.86 million. During the same period in the previous year, the business earned $1.00 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. sell-side analysts anticipate that PennyMac Financial Services will post 3.13 earnings per share for the current fiscal year.

In related news, Director Matthew Botein sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $22.44, for a total transaction of $224,400.00. Following the completion of the sale, the director now owns 34,741 shares in the company, valued at approximately $779,588.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Grogin sold 15,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $21.56, for a total transaction of $323,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,360 shares of company stock valued at $5,923,617. 45.64% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. lifted its holdings in PennyMac Financial Services by 1,652.1% during the 2nd quarter. Citigroup Inc. now owns 6,150 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 5,799 shares in the last quarter. Voya Investment Management LLC bought a new stake in shares of PennyMac Financial Services in the 2nd quarter valued at about $174,000. Victory Capital Management Inc. raised its holdings in shares of PennyMac Financial Services by 52.0% in the 3rd quarter. Victory Capital Management Inc. now owns 10,585 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 3,621 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of PennyMac Financial Services by 11.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,732 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 1,312 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of PennyMac Financial Services by 23.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,025 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 2,489 shares in the last quarter. Institutional investors own 89.47% of the company’s stock.

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

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