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 target price raised by stock analysts at Keefe, Bruyette & Woods from $114.00 to $121.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' price target indicates a potential upside of 20.84% from the stock's current price.

Several other brokerages also recently commented on PFSI. Piper Sandler cut their price target on shares of PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Barclays cut their price target on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a report on Tuesday, July 8th. UBS Group cut their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.83.

PennyMac Financial Services Stock Performance

PFSI traded down $1.12 on Thursday, hitting $100.13. The company's stock had a trading volume of 280,207 shares, compared to its average volume of 328,572. The company's 50 day simple moving average is $97.86 and its 200-day simple moving average is $99.77. The firm has a market cap of $5.17 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 0.21 and a beta of 1.53. PennyMac Financial Services has a 12 month low of $85.74 and a 12 month high of $119.13. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.96.

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

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $100.81, for a total value of $504,050.00. Following the transaction, the chief executive officer owned 135,604 shares in the company, valued at approximately $13,670,239.24. The trade was a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph F. Mazzella sold 11,000 shares of PennyMac Financial Services stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $98.23, for a total transaction of $1,080,530.00. Following the sale, the director directly owned 92,863 shares in the company, valued at $9,121,932.49. The trade was a 10.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,500 shares of company stock worth $3,616,005. 15.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PFSI. CWM LLC lifted its stake in shares of PennyMac Financial Services by 71.5% in 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 valued at approximately $30,000. TD Waterhouse Canada Inc. purchased a new stake in PennyMac Financial Services during the fourth quarter valued at approximately $39,000. Sterling Capital Management LLC boosted its position in shares of PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 343 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in shares of PennyMac Financial Services in the fourth quarter worth approximately $71,000. Institutional investors 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.