Barclays Raises PennyMac Financial Services (NYSE:PFSI) Price Target to $112.00

PennyMac Financial Services (NYSE:PFSI - Get Free Report) had its target price increased by equities research analysts at Barclays from $103.00 to $112.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an "overweight" rating on the real estate investment trust's stock. Barclays's price objective indicates a potential upside of 22.96% from the stock's previous close.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft started coverage on PennyMac Financial Services in a research report on Wednesday, January 10th. They issued a "buy" rating and a $115.00 target price on the stock. Wedbush lifted their price objective on PennyMac Financial Services from $85.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an "outperform" rating to a "market perform" rating in a research report on Wednesday, January 10th. Finally, StockNews.com downgraded PennyMac Financial Services from a "hold" rating to a "sell" rating in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, PennyMac Financial Services currently has a consensus rating of "Moderate Buy" and an average target price of $98.13.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI traded up $1.05 during midday trading on Tuesday, hitting $91.09. The stock had a trading volume of 217,063 shares, compared to its average volume of 235,805. The company has a market capitalization of $4.59 billion, a PE ratio of 33.25, a P/E/G ratio of 0.60 and a beta of 1.67. The stock has a 50 day simple moving average of $88.14 and a 200-day simple moving average of $81.08. PennyMac Financial Services has a 1 year low of $56.16 and a 1 year high of $94.78. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.75. The business had revenue of $361.94 million for the quarter, compared to the consensus estimate of $413.35 million. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. On average, sell-side analysts expect that PennyMac Financial Services will post 10.19 EPS for the current fiscal year.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, insider Derek Stark sold 5,255 shares of PennyMac Financial Services stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total value of $470,007.20. Following the sale, the insider now owns 27,084 shares in the company, valued at $2,422,392.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Derek Stark sold 5,255 shares of PennyMac Financial Services stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total value of $470,007.20. Following the completion of the sale, the insider now directly owns 27,084 shares of the company's stock, valued at $2,422,392.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction 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 sale, 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. Insiders have sold 92,802 shares of company stock worth $8,025,358 over the last quarter. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors have recently modified their holdings of PFSI. Quilter Plc acquired a new position in PennyMac Financial Services during the 1st quarter worth $248,250,000. USA Financial Formulas acquired a new position in PennyMac Financial Services during the 4th quarter worth $25,000. Hexagon Capital Partners LLC grew its stake in PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in PennyMac Financial Services during the 4th quarter worth $36,000. Finally, West Tower Group LLC acquired a new position in PennyMac Financial Services during the 4th quarter worth $45,000. 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.