Analysts Set PennyMac Financial Services, Inc. (NYSE:PFSI) Price Target at $120.83

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $121.67.

A number of equities research analysts have issued reports on the company. UBS Group restated a "neutral" rating and set a $115.00 price objective (up from $110.00) on shares of PennyMac Financial Services in a research report on Tuesday. Barclays dropped their price objective on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective on PennyMac Financial Services from $114.00 to $121.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Piper Sandler dropped their price objective on PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company dropped their price objective on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock traded up $1.36 during trading hours on Monday, hitting $100.89. The company's stock had a trading volume of 280,437 shares, compared to its average volume of 327,523. The business has a 50 day moving average price of $98.07 and a two-hundred day moving average price of $99.75. PennyMac Financial Services has a 12-month low of $85.74 and a 12-month high of $119.13. The company has a market cap of $5.21 billion, a PE ratio of 15.47, a PEG 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.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to analysts' expectations of $520.42 million. PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Analysts expect that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.19%. PennyMac Financial Services's dividend payout ratio is presently 18.40%.

Insider Activity

In other news, Director Joseph F. Mazzella sold 11,000 shares of the stock in a transaction 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 completion of the sale, the director owned 92,863 shares in the company, valued at approximately $9,121,932.49. This represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Spector sold 5,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $100.81, for a total value of $504,050.00. Following the sale, the chief executive officer owned 135,604 shares of the company's stock, valued at approximately $13,670,239.24. This represents a 3.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,500 shares of company stock worth $3,616,005. Insiders own 15.80% of the company's stock.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in PennyMac Financial Services by 12,101.0% in the 1st quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust's stock worth $1,173,000 after acquiring an additional 11,617 shares during the last quarter. Renaissance Technologies LLC purchased a new position in PennyMac Financial Services in the 4th quarter worth $1,307,000. Teacher Retirement System of Texas purchased a new position in PennyMac Financial Services in the 4th quarter worth $518,000. Vanguard Group Inc. raised its stake in PennyMac Financial Services by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock worth $294,835,000 after acquiring an additional 199,667 shares during the last quarter. Finally, Lightrock Netherlands B.V. raised its stake in PennyMac Financial Services by 55.1% in the 1st quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust's stock worth $13,643,000 after acquiring an additional 48,312 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company's stock.

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.