PennyMac Financial Services (PFSI) Projected to Post Earnings on Thursday

PennyMac Financial Services (NYSE:PFSI) will likely be posting its quarterly earnings results after the market closes on Thursday, January 30th. Analysts expect PennyMac Financial Services to post earnings of $3.09 per share and revenue of $524.22 million for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

PennyMac Financial Services Price Performance

PFSI stock traded down $1.59 during mid-day trading on Tuesday, hitting $112.07. The company had a trading volume of 326,216 shares, compared to its average volume of 289,818. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 35.58, a P/E/G ratio of 0.20 and a beta of 1.78. The company has a 50-day moving average price of $104.13 and a 200 day moving average price of $104.18. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services has a 12-month low of $83.03 and a 12-month high of $119.13.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PFSI. Wells Fargo & Company increased their price target 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 dropped their target price on 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. Barclays increased their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Piper Sandler boosted their price objective 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.50.

Insider Activity at PennyMac Financial Services

In related news, CEO David Spector sold 5,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $16,457,725.52. This trade represents a 2.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Doug Jones sold 7,882 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $103.16, for a total transaction of $813,107.12. Following the sale, the director now directly owns 450,000 shares in the company, valued at $46,422,000. This trade represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,844 shares of company stock valued at $15,079,791 over the last 90 days. Insiders own 16.60% of the company’s stock.

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.