PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• PennyMac Financial Services has received a consensus rating of "Moderate Buy" from brokerages, with one hold rating and five buy ratings from a total of six analysts.
• The company's stock has a 1 year low of $85.74 and a high of $130.02, currently trading at $123.94 with a market cap of $6.41 billion.
• PennyMac recently reported earnings per share (EPS) of $1.02 for the last quarter, missing analysts' expectations significantly, with a revenue of $444.73 million.

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have received an average rating of "Moderate Buy" from the six brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $119.3333.

Several analysts have recently weighed in on the company. Wall Street Zen downgraded PennyMac Financial Services from a "hold" rating to a "sell" rating in a research note on Sunday, September 21st. Keefe, Bruyette & Woods raised their price objective on PennyMac Financial Services from $117.00 to $121.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. Wells Fargo & Company began coverage on PennyMac Financial Services in a research report on Monday, August 25th. They issued an "overweight" rating and a $115.00 target price on the stock. Piper Sandler reduced their target price on PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Finally, UBS Group decreased their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th.

PennyMac Financial Services Price Performance

PFSI stock opened at $123.94 on Friday. The firm has a market cap of $6.41 billion, a P/E ratio of 17.19 and a beta of 1.51. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.34 and a current ratio of 0.34. PennyMac Financial Services has a 1 year low of $85.74 and a 1 year high of $130.02. The stock has a 50-day simple moving average of $109.52 and a 200-day simple moving average of $101.85.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.01 by ($1.99). The firm had revenue of $444.73 million for the quarter, compared to analysts' expectations of $547.44 million. PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.18%. The company's revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.85 EPS. On average, equities analysts predict that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Wednesday, August 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. PennyMac Financial Services's payout ratio is presently 16.64%.

Insider Activity at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 5,850 shares of PennyMac Financial Services stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $108.20, for a total value of $632,970.00. Following the completion of the transaction, the chief financial officer directly owned 228,175 shares in the company, valued at approximately $24,688,535. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph F. Mazzella sold 7,107 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $108.16, for a total value of $768,693.12. Following the completion of the sale, the director owned 86,050 shares of the company's stock, valued at $9,307,168. This trade represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,632 shares of company stock worth $3,910,766. 15.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC acquired a new position in shares of PennyMac Financial Services in the 2nd quarter valued at about $26,000. CWM LLC lifted its holdings in PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 113 shares during the last quarter. Strs Ohio acquired a new position in PennyMac Financial Services in the first quarter valued at approximately $30,000. Bayforest Capital Ltd acquired a new position in PennyMac Financial Services in the second quarter valued at approximately $62,000. Finally, Raymond James Financial Inc. bought a new position in shares of PennyMac Financial Services during the second quarter valued at approximately $82,000. 57.87% of the stock is currently 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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