PennyMac Financial Services (NYSE:PFSI) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

PennyMac Financial Services, Inc. (NYSE:PFSI) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $103.35 and traded as high as $108.71. PennyMac Financial Services shares last traded at $107.63, with a volume of 186,653 shares changing hands.

Analysts Set New Price Targets

PFSI has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reduced 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 report on Tuesday, December 10th. Wedbush reissued an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Barclays raised their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler raised their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services has a consensus rating of “Moderate Buy” and an average price target of $122.50.

PennyMac Financial Services Trading Up 0.9 %

The firm has a market cap of $5.52 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 0.18 and a beta of 1.78. 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 firm’s 50-day simple moving average is $103.35 and its 200 day simple moving average is $103.42.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period in the prior year, the firm posted $1.77 EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, analysts expect that PennyMac Financial Services, Inc. will post 11.76 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Insider Activity

In other news, CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total value of $309,536.88. Following the completion of the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at approximately $4,904,403.60. The trade was a 5.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the completion of the sale, the chief financial officer now owns 225,497 shares of the company’s stock, valued at approximately $22,554,209.94. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,844 shares of company stock valued at $15,079,791 over the last quarter. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its holdings in PennyMac Financial Services by 6.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 33,209 shares of the real estate investment trust’s stock worth $3,142,000 after purchasing an additional 1,988 shares in the last quarter. Seven Eight Capital LP bought a new position in PennyMac Financial Services in the 2nd quarter worth $268,000. Sei Investments Co. raised its holdings in PennyMac Financial Services by 43.6% in the 2nd quarter. Sei Investments Co. now owns 12,740 shares of the real estate investment trust’s stock worth $1,205,000 after purchasing an additional 3,870 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in PennyMac Financial Services by 33.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 26,200 shares of the real estate investment trust’s stock worth $2,479,000 after purchasing an additional 6,600 shares in the last quarter. Finally, Aristeia Capital L.L.C. bought a new position in PennyMac Financial Services in the 2nd quarter worth $360,000. 57.87% of the stock is currently owned by institutional investors.

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.