PennyMac Financial Services, Inc. (NYSE:PFSI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $122.50.

Several research firms have recently issued reports on PFSI. Wedbush restated an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods decreased their price target 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. Piper Sandler lifted their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Barclays increased their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th.

PennyMac Financial Services Stock Up 0.3 %

Shares of PennyMac Financial Services stock opened at $109.54 on Monday. The business has a fifty day simple moving average of $103.91 and a 200 day simple moving average of $104.07. The stock has a market cap of $5.61 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 0.20 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. PennyMac Financial Services has a 12 month low of $83.03 and a 12 month high of $119.13.

Insider Activity at PennyMac Financial Services

In related news, Director Doug Jones sold 7,882 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $103.16, for a total value of $813,107.12. Following the completion of the transaction, the director now owns 450,000 shares of the company’s stock, valued at approximately $46,422,000. This trade represents a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the sale, the chief executive officer now directly owns 180,604 shares in the company, valued at $18,970,644.16. This trade represents a 5.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,844 shares of company stock valued at $15,079,791. 16.60% of the stock is owned by insiders.

Institutional Trading of PennyMac Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of PFSI. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services during the third quarter valued at approximately $37,000. Blue Trust Inc. boosted its holdings 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 during the last quarter. KBC Group NV boosted its holdings in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 226 shares during the last quarter. Quantbot Technologies LP grew its position in shares of PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares during the period. Finally, Verition Fund Management LLC bought a new position in PennyMac Financial Services during the third quarter worth about $203,000. Institutional investors and hedge funds 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.