PennyMac Financial Services (NYSE:PFSI) Given Outperform Rating at Wedbush

PennyMac Financial Services (NYSE:PFSI - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $110.00 price target on the real estate investment trust's stock. Wedbush's price target would indicate a potential upside of 27.61% from the company's previous close.

A number of other brokerages have also recently issued reports on PFSI. Barclays upped their price objective 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. StockNews.com raised PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft began coverage on PennyMac Financial Services in a report on Wednesday, January 10th. They set a "buy" rating and a $115.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $100.00 to $105.00 in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services has a consensus rating of "Moderate Buy" and a consensus price target of $98.38.

PennyMac Financial Services Stock Down 6.4 %

NYSE PFSI traded down $5.87 during trading 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 has a market capitalization of $4.35 billion, a PE ratio of 31.81, a P/E/G ratio of 0.61 and a beta of 1.67. The company's 50-day moving average price is $87.95 and its two-hundred day moving average price is $82.89. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. PennyMac Financial Services has a 12 month low of $56.16 and a 12 month high of $94.78.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating the consensus estimate of $2.34 by $0.14. The firm had revenue of $305.66 million for the quarter, compared to analysts' expectations of $422.87 million. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. As a group, sell-side analysts forecast that PennyMac Financial Services will post 10.41 EPS for the current year.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 15,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the sale, the chief executive officer now directly owns 270,604 shares of the company's stock, valued at approximately $23,591,256.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO David Spector sold 15,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the sale, the chief executive officer now directly owns 270,604 shares of the company's stock, valued at approximately $23,591,256.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Derek Stark sold 5,255 shares of the 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 directly owns 27,084 shares in the company, valued at $2,422,392.96. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock valued at $7,666,108 in the last ninety days. 17.40% of the stock is currently owned by corporate insiders.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of PFSI. Dimensional Fund Advisors LP raised its position in PennyMac Financial Services by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust's stock valued at $237,851,000 after purchasing an additional 70,178 shares during the last quarter. Vanguard Group Inc. raised its position in PennyMac Financial Services by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 2,610,041 shares of the real estate investment trust's stock valued at $230,649,000 after purchasing an additional 19,748 shares during the last quarter. Invesco Ltd. raised its position in PennyMac Financial Services by 47.6% in the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust's stock valued at $32,654,000 after purchasing an additional 158,181 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in PennyMac Financial Services by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust's stock valued at $35,060,000 after purchasing an additional 3,947 shares during the last quarter. Finally, Norges Bank bought a new position in PennyMac Financial Services in the fourth quarter valued at about $31,258,000. 57.87% of the stock is currently owned by institutional investors.

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.