PennyMac Financial Services (NYSE:PFSI) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of PennyMac Financial Services (NYSE:PFSI) from a sell rating to a hold rating in a research note released on Friday morning.

Several other analysts have also issued reports on the company. Keefe, Bruyette & Woods dropped their target price on PennyMac Financial Services from $105.00 to $100.00 and set an outperform rating on the stock in a report on Friday, April 26th. Barclays upped their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. Wedbush reissued an outperform rating and issued a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PennyMac Financial Services from $115.00 to $112.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Financial Services has a consensus rating of Moderate Buy and an average price target of $97.75.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $92.89 on Friday. The firm’s 50 day moving average is $88.00 and its 200-day moving average is $84.20. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $4.68 billion, a PE ratio of 32.25, a price-to-earnings-growth ratio of 0.59 and a beta of 1.68. PennyMac Financial Services has a 12-month low of $56.16 and a 12-month high of $94.78.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The firm had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. Equities research analysts anticipate that PennyMac Financial Services will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.86%. PennyMac Financial Services’s payout ratio is presently 27.78%.

Insider Transactions at PennyMac Financial Services

In related news, insider James Follette sold 2,617 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider James Follette sold 2,617 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the sale, the insider now directly owns 7,257 shares of the company’s stock, valued at $625,843.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph F. Mazzella sold 16,465 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total value of $1,493,869.45. Following the transaction, the director now owns 116,546 shares in the company, valued at $10,574,218.58. The disclosure for this sale can be found here. Insiders have sold 104,267 shares of company stock valued at $9,159,977 in the last 90 days. 16.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently modified their holdings of the stock. USA Financial Formulas purchased a new stake in shares of PennyMac Financial Services during the fourth quarter worth $25,000. Hexagon Capital Partners LLC raised its stake in shares of PennyMac Financial Services by 128.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust bought a new stake in PennyMac Financial Services in the fourth quarter worth $36,000. Exchange Traded Concepts LLC bought a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at about $57,000. Finally, TFO Wealth Partners LLC boosted its position in PennyMac Financial Services by 16,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,141 shares during the period. Hedge funds and other 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.