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 objective raised by Keefe, Bruyette & Woods from $114.00 to $121.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 20.84% from the company's current price.

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

PennyMac Financial Services Trading Down 1.1%

Shares of NYSE:PFSI traded down $1.12 during midday trading on Thursday, hitting $100.13. 280,207 shares of the stock were exchanged, compared to its average volume of 328,448. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 0.21 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's 50-day moving average price is $97.86 and its 200 day moving average price is $99.81. PennyMac Financial Services has a 12 month low of $85.74 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its 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 company had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. During the same quarter in the previous year, the company earned $0.74 earnings per share. Analysts predict that PennyMac Financial Services will post 13.77 earnings per share for the current year.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $98.23, for a total transaction of $1,080,530.00. Following the transaction, the director directly owned 92,863 shares in the company, valued at approximately $9,121,932.49. This represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $504,050.00. Following the transaction, the chief executive officer directly owned 135,604 shares in the company, valued at $13,670,239.24. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,500 shares of company stock worth $3,616,005. Corporate insiders own 15.80% of the company's stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of PennyMac Financial Services by 1.6% during the first quarter. Rhumbline Advisers now owns 42,208 shares of the real estate investment trust's stock worth $4,225,000 after purchasing an additional 679 shares during the period. Strs Ohio purchased a new stake in PennyMac Financial Services in the 1st quarter valued at $30,000. Intech Investment Management LLC raised its position in PennyMac Financial Services by 5.8% in the 1st quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust's stock valued at $1,540,000 after buying an additional 840 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in PennyMac Financial Services in the 1st quarter valued at $18,701,000. Finally, Millennium Management LLC raised its position in PennyMac Financial Services by 48.8% in the 1st quarter. Millennium Management LLC now owns 771,605 shares of the real estate investment trust's stock valued at $77,245,000 after buying an additional 253,031 shares during the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

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.