PennyMac Financial Services (NYSE:PFSI) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

PennyMac Financial Services (NYSE:PFSI - Get Free Report) had its price target lifted by equities researchers at Keefe, Bruyette & Woods from $114.00 to $121.00 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 would indicate a potential upside of 19.49% from the company's previous close.

A number of other research firms also recently weighed in on PFSI. Barclays decreased their target price on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a research report on Tuesday. UBS Group decreased their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company dropped their target price on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler cut their price target on PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $120.83.

PennyMac Financial Services Stock Down 1.0%

PennyMac Financial Services stock traded down $1.03 during mid-day trading on Thursday, hitting $101.26. 642,264 shares of the company's stock were exchanged, compared to its average volume of 328,570. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.96. The stock has a market cap of $5.23 billion, a P/E ratio of 15.53, a P/E/G ratio of 0.21 and a beta of 1.53. The stock has a 50 day moving average of $97.82 and a two-hundred day moving average of $99.83. PennyMac Financial Services has a 1-year low of $85.74 and a 1-year high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The firm had revenue of $430.90 million for the quarter, compared to analyst estimates of $520.42 million. PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. During the same period in the prior year, the firm earned $0.74 EPS. As a group, analysts anticipate that PennyMac Financial Services will post 13.77 EPS for the current fiscal year.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the company'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 completion of the transaction, the chief executive officer owned 135,604 shares of the company's stock, valued at $13,670,239.24. This represents a 3.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the chief financial officer owned 234,025 shares of the company's stock, valued at $23,273,786.25. The trade was a 4.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,500 shares of company stock worth $3,616,005. 15.80% of the stock is owned by company insiders.

Institutional Trading of PennyMac Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in PennyMac Financial Services by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust's stock worth $46,352,000 after purchasing an additional 6,459 shares during the period. GAMMA Investing LLC increased its stake in PennyMac Financial Services by 12,101.0% during the 1st quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust's stock worth $1,173,000 after acquiring an additional 11,617 shares during the period. Renaissance Technologies LLC acquired a new position in PennyMac Financial Services in the fourth quarter valued at about $1,307,000. Teacher Retirement System of Texas bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth approximately $518,000. Finally, Vanguard Group Inc. boosted its holdings in shares of PennyMac Financial Services by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after purchasing an additional 199,667 shares in the last quarter. Institutional investors and hedge funds 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.