PennyMac Financial Services (NYSE:PFSI) Stock Rating Upgraded by Wall Street Zen

PennyMac Financial Services (NYSE:PFSI - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

PFSI has been the subject of several other research reports. Piper Sandler cut their price objective on PennyMac Financial Services from $122.00 to $112.00 and set an "overweight" rating for the company in a report on Wednesday. Stephens initiated coverage on PennyMac Financial Services in a research note on Friday, April 24th. They set an "equal weight" rating and a $100.00 price objective for the company. BTIG Research reissued a "buy" rating on shares of PennyMac Financial Services in a research note on Friday, January 30th. Zacks Research raised PennyMac Financial Services from a "strong sell" rating to a "hold" rating in a research note on Friday, April 3rd. Finally, Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $115.00 to $108.00 and set an "outperform" rating for the company in a research note on Friday. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $123.88.

PennyMac Financial Services Trading Up 2.2%

Shares of PFSI opened at $90.62 on Friday. The business's 50-day moving average price is $89.13 and its 200-day moving average price is $113.26. PennyMac Financial Services has a twelve month low of $82.65 and a twelve month high of $160.36. The stock has a market cap of $4.73 billion, a PE ratio of 9.63, a P/E/G ratio of 0.58 and a beta of 1.49. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.32.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.03). PennyMac Financial Services had a net margin of 23.47% and a return on equity of 11.02%. The company had revenue of $544.98 million for the quarter, compared to the consensus estimate of $546.17 million. During the same quarter in the prior year, the company earned $1.42 earnings per share. The company's quarterly revenue was up 26.5% on a year-over-year basis. On average, equities analysts forecast that PennyMac Financial Services will post 10.68 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Patrick Kinsella bought 2,250 shares of the business's stock in a transaction dated Thursday, February 12th. The shares were purchased at an average cost of $89.15 per share, with a total value of $200,587.50. Following the completion of the purchase, the director owned 34,210 shares in the company, valued at approximately $3,049,821.50. The trade was a 7.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Spector sold 10,000 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $92.83, for a total value of $928,300.00. Following the completion of the sale, the chief executive officer directly owned 70,604 shares in the company, valued at approximately $6,554,169.32. This represents a 12.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 51,280 shares of company stock valued at $4,630,853. Insiders own 15.80% of the company's stock.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors have recently modified their holdings of PFSI. EverSource Wealth Advisors LLC purchased a new stake in shares of PennyMac Financial Services during the second quarter valued at $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of PennyMac Financial Services by 7,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 228 shares during the last quarter. Strs Ohio purchased a new stake in shares of PennyMac Financial Services during the first quarter valued at $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at $31,000. Finally, GAMMA Investing LLC boosted its position in shares of PennyMac Financial Services by 97.3% during the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 142 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc NYSE: PFSI is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.

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