PennyMac Financial Services, Inc. (NYSE:PFSI) Given Average Rating of “Hold” by Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have received a consensus recommendation of “Hold” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $117.1250.

A number of analysts have recently issued reports on the stock. Barclays dropped their price target on shares of PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Stephens began coverage on shares of PennyMac Financial Services in a research note on Friday, April 24th. They issued an “equal weight” rating and a $100.00 price objective on the stock. BTIG Research lowered their price objective on shares of PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Wall Street Zen upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company decreased their price target on shares of PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $86.02 on Monday. The firm’s 50-day moving average price is $85.94 and its 200-day moving average price is $102.01. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. The company has a market cap of $4.47 billion, a PE ratio of 9.14, a PEG ratio of 0.56 and a beta of 1.44. PennyMac Financial Services has a 52-week low of $77.67 and a 52-week high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The company had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The business’s revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. As a group, analysts anticipate that PennyMac Financial Services will post 10.68 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a $0.30 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.20 annualized dividend and a yield of 1.4%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.75%.

Insiders Place Their Bets

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 2,943 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $81.71, for a total value of $240,472.53. Following the transaction, the chief accounting officer directly owned 48,968 shares in the company, valued at approximately $4,001,175.28. This trade represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $87.99, for a total transaction of $879,900.00. Following the completion of the transaction, the chief executive officer owned 60,604 shares in the company, valued at $5,332,545.96. The trade was a 14.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 25,868 shares of company stock worth $2,304,610. Company insiders own 15.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PFSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PennyMac Financial Services by 0.7% in 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 acquiring an additional 111 shares in the last quarter. GAMMA Investing LLC increased its holdings in PennyMac Financial Services by 97.3% in the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 142 shares in the last quarter. Sei Investments Co. increased its holdings in PennyMac Financial Services by 0.7% in the 3rd quarter. Sei Investments Co. now owns 22,145 shares of the real estate investment trust’s stock worth $2,743,000 after acquiring an additional 146 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in PennyMac Financial Services by 1.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock worth $2,026,000 after acquiring an additional 163 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of PennyMac Financial Services by 7.3% during the 4th quarter. Cerity Partners LLC now owns 2,399 shares of the real estate investment trust’s stock valued at $316,000 after purchasing an additional 164 shares during the period. 57.87% of the stock is currently owned by institutional investors.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.