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 reduced by equities research analysts at UBS Group from $115.00 to $110.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price target indicates a potential upside of 17.57% from the stock's current price.

A number of other equities analysts have also recently issued reports on PFSI. Keefe, Bruyette & Woods decreased their target price on PennyMac Financial Services from $121.00 to $117.00 and set an "outperform" rating on the stock in a report on Thursday. Wells Fargo & Company decreased their target price on PennyMac Financial Services from $120.00 to $115.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Barclays decreased their target price on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, July 8th. Finally, Piper Sandler decreased their target price on PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $118.67.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock traded down $0.51 during trading on Thursday, hitting $93.56. The stock had a trading volume of 401,493 shares, compared to its average volume of 377,063. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market cap of $4.83 billion, a P/E ratio of 12.98 and a beta of 1.53. The business has a fifty day moving average of $97.93 and a two-hundred day moving average of $99.66. PennyMac Financial Services has a fifty-two week low of $85.74 and a fifty-two week high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($1.99). The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $547.44 million. PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.34%. The company's quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 EPS. On average, sell-side analysts expect that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $100.81, for a total value of $504,050.00. Following the transaction, the chief executive officer directly owned 135,604 shares of the company's stock, valued at $13,670,239.24. This represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph F. Mazzella sold 11,000 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $98.23, for a total value of $1,080,530.00. Following the completion of the transaction, the director directly owned 92,863 shares in the company, valued at approximately $9,121,932.49. The trade was a 10.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,500 shares of company stock valued at $3,616,005 in the last quarter. Company insiders own 15.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PFSI. AlphaQuest LLC raised its holdings in shares of PennyMac Financial Services by 4.4% during the 1st quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust's stock valued at $259,000 after purchasing an additional 110 shares in the last quarter. CWM LLC increased its position in PennyMac Financial Services by 71.5% during the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after buying an additional 113 shares during the last quarter. Hohimer Wealth Management LLC increased its position in PennyMac Financial Services by 5.4% during the first quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock worth $235,000 after buying an additional 121 shares during the last quarter. Summit Investment Advisors Inc. increased its position in PennyMac Financial Services by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock worth $286,000 after buying an additional 154 shares during the last quarter. Finally, Strs Ohio acquired a new position in PennyMac Financial Services during the first quarter worth $30,000. 57.87% of the stock is owned by institutional investors and hedge funds.

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.