Analysts Set PennyMac Financial Services, Inc. (NYSE:PFSI) Price Target at $107.17

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $107.17.

A number of equities research analysts have issued reports on PFSI shares. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a report on Monday, July 22nd. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Wedbush boosted their target price on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Piper Sandler boosted their target price on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th.

PennyMac Financial Services Trading Up 2.3 %

NYSE:PFSI opened at $105.35 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $5.36 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 0.63 and a beta of 1.72. The firm’s 50 day moving average is $97.40 and its 200 day moving average is $92.10. PennyMac Financial Services has a 12 month low of $62.15 and a 12 month high of $105.94.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The company had revenue of $406.13 million during the quarter, compared to the consensus estimate of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. Sell-side analysts expect that PennyMac Financial Services will post 10.54 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were given a dividend of $0.30 per share. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Tuesday, August 13th. PennyMac Financial Services’s payout ratio is 41.67%.

Insider Activity

In related news, Director Anne Mccallion sold 23,829 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $103.14, for a total value of $2,457,723.06. Following the completion of the transaction, the director now directly owns 1,854 shares in the company, valued at $191,221.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total value of $993,100.00. Following the completion of the sale, the chief executive officer now directly owns 210,604 shares of the company’s stock, valued at $20,915,083.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne Mccallion sold 23,829 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the completion of the sale, the director now directly owns 1,854 shares of the company’s stock, valued at $191,221.56. The disclosure for this sale can be found here. Insiders sold 65,225 shares of company stock worth $6,392,919 in the last three months. Corporate insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Hedge funds have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new stake in PennyMac Financial Services in the fourth quarter worth $25,000. Hexagon Capital Partners LLC lifted its stake in PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in PennyMac Financial Services in the fourth quarter worth $36,000. Blue Trust Inc. lifted its stake in PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its stake in PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares during the last quarter. 57.87% of the stock is owned by institutional investors.

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.