PennyMac Financial Services (NYSE:PFSI - Get Free Report) had its target price lowered by Keefe, Bruyette & Woods from $121.00 to $117.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 24.15% from the stock's current price.
A number of other equities research analysts have also issued reports on PFSI. Piper Sandler cut their price target on shares of PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price target on shares of PennyMac Financial Services from $120.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday. UBS Group reissued a "neutral" rating and issued a $115.00 price target (up previously from $110.00) on shares of PennyMac Financial Services in a report on Tuesday, July 15th. Finally, Barclays cut their price target on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, PennyMac Financial Services currently has an average rating of "Moderate Buy" and a consensus target price of $119.50.
Read Our Latest Research Report on PennyMac Financial Services
PennyMac Financial Services Price Performance
PennyMac Financial Services stock traded down $2.32 during midday trading on Thursday, reaching $94.24. 300,886 shares of the stock were exchanged, compared to its average volume of 374,352. The company's fifty day moving average is $98.28 and its 200-day moving average is $99.76. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $4.87 billion, a PE ratio of 13.07, a PEG ratio of 0.22 and a beta of 1.53. PennyMac Financial Services has a 52 week low of $85.74 and a 52 week high of $119.13.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $3.01 by ($1.99). The company had revenue of $444.73 million during the quarter, compared to the consensus estimate of $547.44 million. PennyMac Financial Services had a return on equity of 12.34% and a net margin of 22.00%. PennyMac Financial Services's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.85 EPS. On average, sell-side analysts forecast that PennyMac Financial Services will post 13.77 EPS for the current year.
Insider Transactions at PennyMac Financial Services
In other news, Director Joseph F. Mazzella sold 11,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $98.23, for a total value of $1,080,530.00. Following the completion of the sale, the director directly owned 92,863 shares of the company's stock, valued at $9,121,932.49. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $99.45, for a total transaction of $1,044,225.00. Following the completion of the sale, the chief financial officer directly owned 234,025 shares of the company's stock, valued at approximately $23,273,786.25. This trade represents a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,500 shares of company stock valued at $3,616,005 over the last three months. Corporate insiders own 15.80% of the company's stock.
Hedge Funds Weigh In On PennyMac Financial Services
Several institutional investors have recently bought and sold shares of PFSI. AlphaQuest LLC lifted its holdings 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 worth $259,000 after acquiring an additional 110 shares during the last quarter. CWM LLC lifted its holdings in PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 113 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in PennyMac Financial Services by 5.4% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock valued at $235,000 after buying an additional 121 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in PennyMac Financial Services by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock valued at $286,000 after buying an additional 154 shares in the last quarter. Finally, Strs Ohio bought a new stake in PennyMac Financial Services during the 1st quarter valued at about $30,000. Institutional investors own 57.87% of the company's stock.
About PennyMac Financial Services
(
Get Free Report)
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.
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