PennyMac Financial Services (NYSE:PFSI) Hits New 52-Week Low - Time to Sell?

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) hit a new 52-week low on Wednesday. The company traded as low as $63.03 and last traded at $63.6870, with a volume of 542310 shares changing hands. The stock had previously closed at $63.66.

Analyst Ratings Changes

A number of equities analysts have recently commented on PFSI shares. Wall Street Zen cut PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Wells Fargo & Company reduced their price objective on PennyMac Financial Services from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. BTIG Research reduced their price objective on PennyMac Financial Services from $105.00 to $90.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reiterated a "sell (d+)" rating on shares of PennyMac Financial Services in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods lowered their target price on PennyMac Financial Services from $108.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $104.88.

PennyMac Financial Services Trading Up 0.0%

The business's 50 day simple moving average is $73.83 and its two-hundred day simple moving average is $81.79. The stock has a market cap of $3.31 billion, a P/E ratio of 8.75, a PEG ratio of 0.60 and a beta of 1.44. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%.The company had revenue of $496.96 million for the quarter, compared to analyst estimates of $571.60 million. During the same quarter last year, the company posted $2.54 earnings per share. The firm's quarterly revenue was up 11.8% on a year-over-year basis. As a group, analysts expect that PennyMac Financial Services, Inc. will post 7.36 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, August 17th. PennyMac Financial Services's dividend payout ratio is presently 16.48%.

Institutional Trading of PennyMac Financial Services

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in PennyMac Financial Services during the 2nd quarter worth approximately $1,713,000. BlueCrest Capital Management Ltd increased its position in PennyMac Financial Services by 12.8% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 396,103 shares of the real estate investment trust's stock valued at $34,501,000 after acquiring an additional 45,008 shares during the period. Donald Smith & CO. Inc. acquired a new position in PennyMac Financial Services in the 2nd quarter valued at approximately $163,940,000. Legal & General Group Plc bought a new position in shares of PennyMac Financial Services during the second quarter valued at $2,250,000. Finally, BlackRock Inc. bought a new position in shares of PennyMac Financial Services during the second quarter valued at $202,735,000. 57.87% of the stock is owned by institutional investors and hedge funds.

About PennyMac Financial Services

PennyMac Financial Services, Inc NYSE: PFSI is a mortgage banking company that provides a range of residential lending and loan servicing services in the United States. The company operates through its subsidiaries and focuses primarily on the production and servicing of conventional and government-insured residential mortgage loans.

PennyMac's loan production business acquires, originates and refinances mortgage loans through correspondent, broker-direct and consumer-direct channels.

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