PennyMac Financial Services (NYSE:PFSI) Upgraded by StockNews.com to Hold

PennyMac Financial Services (NYSE:PFSI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other equities analysts have also commented on the stock. Barclays lifted their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of PennyMac Financial Services in a research report on Wednesday, January 10th. They set a “buy” rating and a $115.00 target price for the company. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and raised their price target for the company from $100.00 to $105.00 in a research report on Tuesday. Finally, Wedbush boosted their price objective on PennyMac Financial Services from $85.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services presently has an average rating of “Moderate Buy” and a consensus price target of $98.13.

PennyMac Financial Services Stock Down 3.9 %

PennyMac Financial Services stock opened at $87.55 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90. PennyMac Financial Services has a 1-year low of $56.16 and a 1-year high of $94.78. The firm’s fifty day simple moving average is $88.19 and its 200-day simple moving average is $81.29. The company has a market capitalization of $4.42 billion, a P/E ratio of 32.31, a P/E/G ratio of 0.60 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.75. The company had revenue of $361.94 million during the quarter, compared to analysts’ expectations of $413.35 million. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. Sell-side analysts forecast that PennyMac Financial Services will post 10.19 earnings per share for the current fiscal year.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $84.43, for a total transaction of $1,266,450.00. Following the sale, the chief executive officer now owns 285,604 shares in the company, valued at $24,113,545.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Derek Stark sold 5,255 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total value of $470,007.20. Following the sale, the insider now owns 27,084 shares of the company’s stock, valued at approximately $2,422,392.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Spector sold 15,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $84.43, for a total value of $1,266,450.00. Following the transaction, the chief executive officer now owns 285,604 shares of the company’s stock, valued at $24,113,545.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,802 shares of company stock worth $8,025,358. 17.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd bought a new position in shares of PennyMac Financial Services in the 4th quarter valued at about $967,000. Vanguard Group Inc. boosted its stake in PennyMac Financial Services by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 2,610,041 shares of the real estate investment trust’s stock valued at $230,649,000 after acquiring an additional 19,748 shares during the last quarter. Virtu Financial LLC acquired a new stake in PennyMac Financial Services during the 4th quarter worth $253,000. Mercer Global Advisors Inc. ADV raised its position in shares of PennyMac Financial Services by 9.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,394 shares of the real estate investment trust’s stock valued at $2,686,000 after acquiring an additional 2,664 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of PennyMac Financial Services by 0.8% during the 4th quarter. Legal & General Group Plc now owns 39,048 shares of the real estate investment trust’s stock valued at $3,451,000 after acquiring an additional 308 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.