PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $98.13.

A number of equities research analysts recently weighed in on the company. Wedbush increased their price target on PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, January 2nd. Barclays increased their price objective 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, April 9th. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $105.00 in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of PennyMac Financial Services in a research note on Wednesday, January 10th. They issued a “buy” rating and a $115.00 price target on the stock. Finally, StockNews.com upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th.

Insiders Place Their Bets

In other news, CEO David Spector sold 26,451 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $86.05, for a total value of $2,276,108.55. Following the completion of the sale, the chief executive officer now directly owns 647,938 shares in the company, valued at $55,755,064.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO David Spector sold 26,451 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $86.05, for a total value of $2,276,108.55. Following the transaction, the chief executive officer now owns 647,938 shares in the company, valued at $55,755,064.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Follette sold 2,617 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the sale, the insider now directly owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock worth $7,666,108 in the last quarter. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Large investors have recently made changes to their positions in the company. USA Financial Formulas bought a new stake in PennyMac Financial Services during the fourth quarter worth $25,000. Hexagon Capital Partners LLC raised its holdings in shares of PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 205 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of PennyMac Financial Services by 59.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 542 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 203 shares during the last quarter. Parkside Financial Bank & Trust acquired a new stake in PennyMac Financial Services in the fourth quarter valued at about $36,000. Finally, West Tower Group LLC bought a new position in PennyMac Financial Services in the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Up 1.1 %

Shares of PFSI stock opened at $88.00 on Friday. PennyMac Financial Services has a 52-week low of $56.16 and a 52-week high of $94.78. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 0.57 and a beta of 1.67. The firm’s 50-day moving average is $87.77 and its 200-day moving average is $82.22. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37.

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. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. The firm had revenue of $361.94 million for the quarter, compared to the consensus estimate of $413.35 million. Sell-side analysts predict that PennyMac Financial Services will post 10.41 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Monday, February 12th. PennyMac Financial Services’s dividend payout ratio is currently 29.52%.

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.