PennyMac Financial Services, Inc. (NYSE:PFSI) Given Average Rating of “Moderate Buy” by Brokerages

PennyMac Financial Services, Inc. (NYSE:PFSI) has received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $107.17.

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

Insider Buying and Selling

In related news, Director Anne Mccallion sold 23,829 shares of the stock in a transaction on Monday, August 26th. The shares were 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 owns 1,854 shares in the company, valued at approximately $191,221.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Anne Mccallion sold 23,829 shares of the stock in a transaction on Monday, August 26th. The shares were 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 owns 1,854 shares in the company, valued at approximately $191,221.56. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. The disclosure for this sale can be found here. Insiders sold a total of 79,355 shares of company stock worth $8,306,734 in the last 90 days. Company insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its stake in shares of PennyMac Financial Services by 59.9% in the second quarter. Creative Planning now owns 4,977 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 1,865 shares during the period. Algert Global LLC acquired a new stake in shares of PennyMac Financial Services in the second quarter valued at about $408,000. The Manufacturers Life Insurance Company increased its holdings in PennyMac Financial Services by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,449 shares of the real estate investment trust’s stock valued at $1,745,000 after acquiring an additional 1,166 shares in the last quarter. Maverick Capital Ltd. increased its holdings in PennyMac Financial Services by 263.8% during the 2nd quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock valued at $1,221,000 after acquiring an additional 9,357 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in PennyMac Financial Services during the 2nd quarter valued at about $639,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock opened at $112.47 on Tuesday. The firm has a market cap of $5.73 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 0.75 and a beta of 1.77. PennyMac Financial Services has a 52-week low of $62.15 and a 52-week high of $119.13. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The company’s 50 day moving average is $103.05 and its two-hundred day moving average is $95.00.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data 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). PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The firm had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. During the same period in the prior year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. On average, research analysts expect that PennyMac Financial Services will post 10.61 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 41.67%.

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.