Q3 2024 EPS Estimates for PennyMac Financial Services, Inc. Raised by Analyst (NYSE:PFSI)

PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) - Analysts at Wedbush boosted their Q3 2024 earnings per share (EPS) estimates for PennyMac Financial Services in a research note issued on Thursday, April 25th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings of $2.87 per share for the quarter, up from their prior forecast of $2.78. Wedbush currently has a "Outperform" rating and a $110.00 price target on the stock. The consensus estimate for PennyMac Financial Services' current full-year earnings is $10.41 per share. Wedbush also issued estimates for PennyMac Financial Services' FY2024 earnings at $10.85 EPS and FY2025 earnings at $12.70 EPS.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday. StockNews.com downgraded PennyMac Financial Services from a "hold" rating to a "sell" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their target price on PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Barclays upped their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PennyMac Financial Services has a consensus rating of "Moderate Buy" and an average target price of $97.75.

PennyMac Financial Services Stock Up 0.9 %

Shares of PennyMac Financial Services stock traded up $0.81 during trading on Friday, reaching $87.01. The stock had a trading volume of 487,854 shares, compared to its average volume of 243,849. PennyMac Financial Services has a 52 week low of $56.16 and a 52 week high of $94.78. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 0.61 and a beta of 1.67. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90. The stock has a fifty day moving average price of $87.83 and a two-hundred day moving average price of $83.05.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.14. The company had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.92%. PennyMac Financial Services's payout ratio is currently 27.78%.

Insiders Place Their Bets

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the completion of the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at approximately $22,823,884.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider James Follette sold 2,617 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the sale, the insider now directly owns 7,257 shares of the company's stock, valued at $625,843.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $88.50, for a total value of $1,008,900.00. Following the completion of the transaction, the chief financial officer now directly owns 257,897 shares of the company's stock, valued at $22,823,884.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,802 shares of company stock worth $7,666,108. Company insiders own 17.40% of the company's stock.

Hedge Funds Weigh In On PennyMac Financial Services

Large investors have recently made changes to their positions in the stock. USA Financial Formulas bought a new position in shares of PennyMac Financial Services in the fourth quarter worth $25,000. Hexagon Capital Partners LLC raised its position in shares of PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust's stock worth $32,000 after buying an additional 205 shares in the last quarter. Parkside Financial Bank & Trust purchased a new stake in shares of PennyMac Financial Services in the fourth quarter worth $36,000. Exchange Traded Concepts LLC purchased a new stake in shares of PennyMac Financial Services in the third quarter worth $57,000. Finally, TFO Wealth Partners LLC raised its position in shares of PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust's stock worth $101,000 after buying an additional 1,141 shares in the last quarter. 57.87% of the stock is owned by institutional investors.

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.