PennyMac Financial Services (NYSE:PFSI) Given New $110.00 Price Target at UBS Group

PennyMac Financial Services (NYSE:PFSI - Get Free Report) had its target price dropped by analysts at UBS Group from $115.00 to $110.00 in a report issued on Wednesday, MarketBeat.com reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price objective suggests a potential upside of 16.96% from the stock's previous close.

Several other research analysts have also recently weighed in on PFSI. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a research report on Tuesday, April 8th. Piper Sandler cut their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $120.86.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock traded down $3.01 during midday trading on Wednesday, hitting $94.05. 91,181 shares of the company were exchanged, compared to its average volume of 302,470. The firm has a market cap of $4.84 billion, a P/E ratio of 16.10, a PEG ratio of 0.19 and a beta of 1.73. The firm has a 50 day simple moving average of $99.36 and a 200-day simple moving average of $102.65. PennyMac Financial Services has a 52 week low of $83.03 and a 52 week high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. Research analysts forecast that PennyMac Financial Services will post 13.77 earnings per share for the current year.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the sale, the chief financial officer now directly owns 214,997 shares of the company's stock, valued at approximately $21,820,045.53. This represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark Elbaum sold 410 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the transaction, the insider now directly owns 4,207 shares in the company, valued at approximately $432,816.16. This trade represents a 8.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,464 shares of company stock valued at $4,540,867 in the last ninety days. 16.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC acquired a new stake in PennyMac Financial Services during the third quarter worth approximately $702,000. Barclays PLC lifted its stake in PennyMac Financial Services by 505.4% in the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust's stock valued at $6,859,000 after purchasing an additional 50,238 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of PennyMac Financial Services by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust's stock valued at $73,841,000 after acquiring an additional 19,662 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of PennyMac Financial Services by 115.3% during the third quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust's stock worth $1,719,000 after purchasing an additional 8,078 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in PennyMac Financial Services by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock valued at $108,809,000 after acquiring an additional 21,751 shares during the period. Institutional investors and hedge funds 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.