PennyMac Financial Services, Inc. (NYSE:PFSI) Stock Has Consensus Price Target of $92.14

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $88.71.

Several equities analysts have commented on the company. Wall Street Zen downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings cut shares of PennyMac Financial Services from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 29th. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from a “moderate buy” rating to a “hold” rating and reduced their price objective for the stock from $100.00 to $80.00 in a research note on Monday. Barclays lowered their target price on shares of PennyMac Financial Services from $71.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Stephens dropped their target price on shares of PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $63.79 on Friday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 14.34 and a beta of 1.48. The business’s 50-day simple moving average is $65.58 and its 200-day simple moving average is $84.20. PennyMac Financial Services has a 52 week low of $57.52 and a 52 week high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.22). The company had revenue of $502.00 million during the quarter, compared to analyst estimates of $531.77 million. PennyMac Financial Services had a return on equity of 8.20% and a net margin of 11.72%. The firm’s revenue for the quarter was down 25.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.37 earnings per share. As a group, equities research analysts expect that PennyMac Financial Services will post 5.78 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Monday, November 16th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, November 16th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 26.97%.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors have recently made changes to their positions in the business. Covestor Ltd lifted its holdings in shares of PennyMac Financial Services by 82.0% during the third quarter. Covestor Ltd now owns 770 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 347 shares during the last quarter. State of Wyoming raised its stake in PennyMac Financial Services by 10.2% during the 3rd quarter. State of Wyoming now owns 5,809 shares of the real estate investment trust’s stock valued at $359,000 after purchasing an additional 536 shares during the last quarter. Berman McAleer LLC acquired a new position in PennyMac Financial Services during the 3rd quarter valued at $370,000. GAMMA Investing LLC boosted its holdings in PennyMac Financial Services by 313.2% in the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 332 shares during the period. Finally, Versant Capital Management Inc bought a new stake in PennyMac Financial Services in the 3rd quarter valued at $71,000. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a specialty financial services company focused on the U.S. residential mortgage market. Through its subsidiaries, the company originates, acquires, and services residential mortgage loans, with an emphasis on conventional, government-backed, and other mortgage products.

PennyMac’s primary businesses include mortgage production, loan servicing, and investment management. Its production platform acquires and originates loans through correspondent relationships with banks and other lenders, as well as through direct-to-consumer and broker channels.