PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $138.6667.

PFSI has been the topic of several research analyst reports. Barclays raised their price objective on PennyMac Financial Services from $136.00 to $139.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Zacks Research raised shares of PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Piper Sandler boosted their price target on shares of PennyMac Financial Services from $136.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PennyMac Financial Services in a report on Friday, October 31st. Finally, UBS Group boosted their target price on shares of PennyMac Financial Services from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th.

PennyMac Financial Services Stock Up 2.0%

PFSI opened at $131.07 on Thursday. PennyMac Financial Services has a fifty-two week low of $85.74 and a fifty-two week high of $136.62. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36. The company has a fifty day moving average of $126.19 and a two-hundred day moving average of $112.44. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 14.12 and a beta of 1.58.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.39. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The business had revenue of $632.90 million for the quarter, compared to analyst estimates of $573.46 million. During the same period in the prior year, the company posted $1.30 EPS. The company’s revenue for the quarter was up 53.7% on a year-over-year basis. On average, research analysts expect that PennyMac Financial Services will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.9%. PennyMac Financial Services’s dividend payout ratio is presently 12.93%.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 26,011 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $131.36, for a total value of $3,416,804.96. Following the transaction, the chief financial officer owned 9,964 shares in the company, valued at approximately $1,308,871.04. This trade represents a 72.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Doug Jones sold 23,453 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $127.56, for a total transaction of $2,991,664.68. Following the sale, the director directly owned 19,056 shares of the company’s stock, valued at $2,430,783.36. The trade was a 55.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 209,599 shares of company stock worth $27,050,778. 15.80% of the stock is owned by insiders.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of PFSI. Harbor Capital Advisors Inc. increased its position in shares of PennyMac Financial Services by 26.3% during the third quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 105 shares in the last quarter. AlphaQuest LLC boosted its position in shares of PennyMac Financial Services by 4.4% in the 1st quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 110 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in PennyMac Financial Services by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,034 shares of the real estate investment trust’s stock worth $1,598,000 after buying an additional 111 shares during the last quarter. Sei Investments Co. increased its position in PennyMac Financial Services by 0.7% during the third quarter. Sei Investments Co. now owns 22,145 shares of the real estate investment trust’s stock worth $2,743,000 after buying an additional 146 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in PennyMac Financial Services by 1.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock valued at $2,026,000 after buying an additional 163 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Financial Services

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.