Deutsche Bank Aktiengesellschaft Lowers PennyMac Financial Services (NYSE:PFSI) Price Target to $112.00

PennyMac Financial Services (NYSE:PFSI - Free Report) had its target price trimmed by Deutsche Bank Aktiengesellschaft from $115.00 to $112.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the real estate investment trust's stock.

A number of other equities analysts have also recently commented on PFSI. Barclays lifted their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a market perform rating to an outperform rating and upped their target price for the company from $100.00 to $105.00 in a report on Tuesday, April 9th. StockNews.com raised PennyMac Financial Services from a sell rating to a hold rating in a research note on Thursday, April 11th. Finally, Wedbush reissued an outperform rating and issued a $110.00 price target on shares of PennyMac Financial Services in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $98.38.

PennyMac Financial Services Price Performance

Shares of PFSI traded down $5.87 during trading hours on Thursday, hitting $86.20. The stock had a trading volume of 1,077,164 shares, compared to its average volume of 241,158. The company's fifty day moving average is $87.95 and its two-hundred day moving average is $82.89. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37. PennyMac Financial Services has a 52 week low of $56.16 and a 52 week high of $94.78. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.34 by $0.14. The business had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. On average, analysts anticipate that PennyMac Financial Services will post 10.41 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Monday, February 12th. PennyMac Financial Services's dividend payout ratio is presently 29.52%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 26,451 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the sale, the chief executive officer now owns 647,938 shares of the company's stock, valued at approximately $55,755,064.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 26,451 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the transaction, the chief executive officer now owns 647,938 shares in the company, valued at approximately $55,755,064.90. 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 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 transaction 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 sold 87,802 shares of company stock valued at $7,666,108 over the last 90 days. 17.40% of the stock is currently owned by corporate insiders.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently made changes to their positions in the stock. USA Financial Formulas bought a new position in PennyMac Financial Services during the 4th quarter worth about $25,000. Hexagon Capital Partners LLC lifted its holdings in PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust purchased a new stake in PennyMac Financial Services in the 4th quarter valued at about $36,000. Exchange Traded Concepts LLC purchased a new stake in PennyMac Financial Services during the third quarter worth approximately $57,000. Finally, TFO Wealth Partners LLC lifted its holdings in shares of PennyMac Financial Services by 16,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust's stock worth $101,000 after purchasing an additional 1,141 shares during the period. Hedge funds and other institutional investors 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.