PennyMac Financial Services (NYSE:PFSI - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Wednesday.
A number of other research analysts also recently weighed in on PFSI. Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Wedbush reiterated an "outperform" rating and set a $110.00 target price on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Finally, Barclays increased their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.75.
Read Our Latest Research Report on PennyMac Financial Services
PennyMac Financial Services Price Performance
PFSI traded up $0.55 during trading on Wednesday, hitting $92.68. 173,463 shares of the stock traded hands, compared to its average volume of 162,284. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.39 and a quick ratio of 0.39. PennyMac Financial Services has a twelve month low of $62.15 and a twelve month high of $94.80. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 0.60 and a beta of 1.70. The business has a 50 day moving average price of $90.37 and a 200 day moving average price of $88.34.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The firm had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. Equities research analysts forecast that PennyMac Financial Services will post 10.55 earnings per share for the current fiscal year.
Insider Buying and Selling at PennyMac Financial Services
In related news, insider Derek Stark sold 5,255 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $89.44, for a total value of $470,007.20. Following the transaction, the insider now owns 27,084 shares of the company's stock, valued at approximately $2,422,392.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the sale, the chief executive officer now directly owns 230,604 shares in the company, valued at approximately $20,883,498.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Derek Stark sold 5,255 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $89.44, for a total transaction of $470,007.20. Following the transaction, the insider now directly owns 27,084 shares of the company's stock, valued at $2,422,392.96. The disclosure for this sale can be found here. Insiders sold 93,120 shares of company stock worth $8,501,777 over the last 90 days. 16.60% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in PennyMac Financial Services by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust's stock valued at $237,851,000 after purchasing an additional 70,178 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust's stock worth $238,509,000 after purchasing an additional 8,345 shares during the period. Invesco Ltd. lifted its holdings in shares of PennyMac Financial Services by 47.6% during the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust's stock worth $32,654,000 after purchasing an additional 158,181 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of PennyMac Financial Services by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust's stock worth $35,060,000 after purchasing an additional 3,947 shares during the period. Finally, Norges Bank acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth $31,258,000. Institutional investors and hedge funds own 57.87% of the company's stock.
About PennyMac Financial Services
(Get Free Report)
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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