PennyMac Financial Services (NYSE:PFSI) PT Lowered to $100.00 at Keefe, Bruyette & Woods

PennyMac Financial Services (NYSE:PFSI) had its price target reduced by Keefe, Bruyette & Woods from $105.00 to $100.00 in a research note issued to investors on Friday, Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the real estate investment trust’s stock.

A number of other research firms have also issued reports on PFSI. Barclays upped their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. StockNews.com lowered shares of PennyMac Financial Services from a hold rating to a sell rating in a report on Thursday. Wedbush reissued an outperform rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PennyMac Financial Services from $115.00 to $112.00 and set a buy rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $97.75.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $87.00 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90. The company has a 50 day simple moving average of $87.83 and a two-hundred day simple moving average of $83.25. PennyMac Financial Services has a 12 month low of $56.16 and a 12 month high of $94.78. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 0.56 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.51%. The firm had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. As a group, analysts predict that PennyMac Financial Services will post 10.58 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.92%. PennyMac Financial Services’s dividend payout ratio is presently 27.78%.

Insider Transactions at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 11,400 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at $22,823,884.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO David Spector sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the sale, the chief executive officer now directly owns 270,604 shares in the company, valued at $23,591,256.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the sale, the chief financial officer now owns 257,897 shares in the company, valued at $22,823,884.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,802 shares of company stock valued at $7,666,108. 17.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its stake in PennyMac Financial Services by 40.0% in the fourth quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust’s stock valued at $5,333,000 after purchasing an additional 17,245 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in PennyMac Financial Services in the third quarter valued at approximately $3,370,000. Graham Capital Management L.P. purchased a new position in PennyMac Financial Services in the third quarter valued at approximately $1,237,000. Adage Capital Partners GP L.L.C. purchased a new position in PennyMac Financial Services in the third quarter valued at approximately $3,657,000. Finally, Invesco Ltd. increased its stake in PennyMac Financial Services by 47.6% in the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after purchasing an additional 158,181 shares during the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.