PennyMac Financial Services, Inc. (NYSE:PFSI) Given Average Rating of "Moderate Buy" by Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $120.83.

Several equities analysts recently issued reports on PFSI shares. Piper Sandler decreased their price objective on PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. UBS Group dropped their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Barclays reduced their price objective on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a research report on Tuesday, July 8th. Wells Fargo & Company dropped their target price on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods boosted their target price on PennyMac Financial Services from $114.00 to $121.00 and gave the company an "outperform" rating in a research note on Thursday.

PennyMac Financial Services Price Performance

Shares of PFSI stock opened at $100.13 on Monday. The firm's 50 day moving average price is $97.86 and its two-hundred day moving average price is $99.77. 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 has a 52-week low of $85.74 and a 52-week high of $119.13. The stock has a market cap of $5.17 billion, a PE ratio of 15.36, a PEG ratio of 0.21 and a beta of 1.53.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. The firm had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. During the same period in the previous year, the business earned $0.74 EPS. As a group, analysts forecast that PennyMac Financial Services will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

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

Insider Activity

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $99.45, for a total transaction of $1,044,225.00. Following the sale, the chief financial officer owned 234,025 shares in the company, valued at $23,273,786.25. This represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Spector sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 135,604 shares of the company's stock, valued at approximately $13,670,239.24. The trade was a 3.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,500 shares of company stock worth $3,616,005 in the last quarter. Corporate insiders own 15.80% of the company's stock.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd boosted its stake in shares of PennyMac Financial Services by 447.5% during the 1st quarter. Orbis Allan Gray Ltd now owns 926,775 shares of the real estate investment trust's stock worth $92,779,000 after acquiring an additional 757,489 shares during the period. Norges Bank bought a new position in PennyMac Financial Services during the fourth quarter worth $38,004,000. Millennium Management LLC increased its holdings in shares of PennyMac Financial Services by 104.5% in the fourth quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust's stock valued at $52,967,000 after purchasing an additional 264,956 shares during the last quarter. Vanguard Group Inc. raised its position in shares of PennyMac Financial Services by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after purchasing an additional 199,667 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of PennyMac Financial Services during the 1st quarter worth about $18,701,000. 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.

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