PennyMac Financial Services (NYSE:PFSI) Price Target Lowered to $130.00 at Piper Sandler

PennyMac Financial Services (NYSE:PFSI) had its price objective decreased by analysts at Piper Sandler from $132.00 to $130.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s target price would suggest a potential upside of 23.33% from the company’s current price.

Several other analysts also recently commented on PFSI. 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. Keefe, Bruyette & Woods reduced 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. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.17.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock traded down $9.41 during mid-day trading on Friday, reaching $105.41. 162,694 shares of the company were exchanged, compared to its average volume of 307,603. The firm has a market cap of $5.40 billion, a PE ratio of 33.33, a PEG ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The company has a fifty day simple moving average of $104.67 and a 200-day simple moving average of $104.39. PennyMac Financial Services has a 12 month low of $83.03 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. As a group, equities research analysts expect that PennyMac Financial Services will post 11.76 earnings per share for the current fiscal year.

Insider Activity at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the completion of the sale, the chief executive officer now owns 180,604 shares of the company’s stock, valued at approximately $18,970,644.16. This represents a 5.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Doug Jones sold 7,882 shares of the 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 transaction, the director now 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. Over the last three months, insiders sold 147,844 shares of company stock worth $15,079,791. Company insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services during the third quarter valued at approximately $37,000. Blue Trust Inc. raised its position in shares of PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 262 shares in the last quarter. KBC Group NV lifted its stake in PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares during the last quarter. Quantbot Technologies LP increased its holdings in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 290 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at $203,000. Institutional investors own 57.87% of the company’s stock.

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.