Keefe, Bruyette & Woods Issues Pessimistic Forecast for PennyMac Financial Services (NYSE:PFSI) Stock Price

PennyMac Financial Services (NYSE:PFSI - Get Free Report) had its target price reduced by equities research analysts at Keefe, Bruyette & Woods from $121.00 to $117.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 25.05% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group raised their target price on shares of PennyMac Financial Services from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Barclays reduced their target price 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. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company lowered their price target on shares of PennyMac Financial Services from $120.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $118.67.

PennyMac Financial Services Stock Down 0.5%

Shares of PFSI traded down $0.51 on Thursday, hitting $93.56. 401,493 shares of the stock traded hands, compared to its average volume of 377,063. The company has a market capitalization of $4.83 billion, a PE ratio of 12.98 and a beta of 1.53. 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 business has a 50 day simple moving average of $97.93 and a 200 day simple moving average of $99.66. PennyMac Financial Services has a one year low of $85.74 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its 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 business had revenue of $444.73 million for the quarter, compared to analysts' expectations of $547.44 million. PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.34%. The firm's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.85 earnings per share. As a group, equities analysts forecast that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $99.45, for a total value of $1,044,225.00. Following the completion of the transaction, the chief financial officer 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Spector sold 5,000 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $100.81, for a total transaction of $504,050.00. Following the transaction, the chief executive officer owned 135,604 shares of the company's stock, valued at $13,670,239.24. This trade represents a 3.56% decrease in their position. 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 90 days. 15.80% of the stock is owned by company insiders.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of PFSI. CWM LLC boosted its holdings in PennyMac Financial Services by 71.5% during the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after buying an additional 113 shares in the last quarter. Strs Ohio purchased a new stake in PennyMac Financial Services during the first quarter worth about $30,000. TD Waterhouse Canada Inc. purchased a new stake in PennyMac Financial Services during the fourth quarter worth about $39,000. Sterling Capital Management LLC grew its stake in PennyMac Financial Services by 601.8% in the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 343 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in PennyMac Financial Services in the 2nd quarter valued at about $62,000. Hedge funds and other institutional investors own 57.87% of the company's stock.

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.