Brokerages Set PennyMac Financial Services, Inc. (NYSE:PFSI) Target Price at $122.17

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $122.17.

Several research firms have weighed in on PFSI. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Finally, Piper Sandler lowered their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st.

Insider Activity

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total value of $496,900.00. Following the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $16,457,725.52. The trade was a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 16,481 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $101.56, for a total transaction of $1,673,810.36. Following the completion of the transaction, the chief financial officer now directly owns 37,501 shares in the company, valued at approximately $3,808,601.56. The trade was a 30.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 124,312 shares of company stock valued at $12,669,644. 16.60% of the stock is currently owned by insiders.

Institutional Trading of PennyMac Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC increased its holdings in PennyMac Financial Services by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 7,530 shares of the real estate investment trust’s stock worth $769,000 after buying an additional 2,478 shares during the last quarter. Millennium Management LLC boosted its position in shares of PennyMac Financial Services by 104.5% in the fourth quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust’s stock valued at $52,967,000 after acquiring an additional 264,956 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PennyMac Financial Services by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust’s stock valued at $1,554,000 after acquiring an additional 606 shares during the period. Interval Partners LP boosted its position in shares of PennyMac Financial Services by 379.7% in the fourth quarter. Interval Partners LP now owns 39,320 shares of the real estate investment trust’s stock valued at $4,016,000 after acquiring an additional 31,123 shares during the period. Finally, Crestline Management LP bought a new stake in PennyMac Financial Services during the fourth quarter worth about $974,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Trading Up 0.0 %

Shares of PennyMac Financial Services stock opened at $101.80 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $5.22 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78. PennyMac Financial Services has a 12-month low of $83.03 and a 12-month high of $119.13. The company has a 50-day simple moving average of $103.80 and a 200 day simple moving average of $104.76.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.80%. Research analysts expect that PennyMac Financial Services will post 13.98 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

About PennyMac Financial Services

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.