PennyMac Financial Services (NYSE:PFSI) Downgraded by StockNews.com

StockNews.com cut shares of PennyMac Financial Services (NYSE:PFSI) from a hold rating to a sell rating in a report issued on Thursday.

PFSI has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a buy rating for the company in a report on Thursday. Wedbush reissued an outperform rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research note on Thursday. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a market perform rating to an outperform rating and increased their price objective for the company from $100.00 to $105.00 in a research note on Tuesday, April 9th. Finally, Barclays increased their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, PennyMac Financial Services presently has an average rating of Moderate Buy and an average price target of $98.38.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $86.20 on Thursday. The company has a 50 day moving average of $87.95 and a 200-day moving average of $82.89. PennyMac Financial Services has a 1-year low of $56.16 and a 1-year high of $94.78. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90. The company has a market cap of $4.35 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67.

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 for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.51%. The company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. As a group, equities research analysts forecast that PennyMac Financial Services will post 10.41 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, May 24th. Shareholders of record on Tuesday, May 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.93%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 27.78%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 11,400 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $88.50, for a total value of $1,008,900.00. Following the completion of the transaction, the chief financial officer now directly owns 257,897 shares in the company, valued at approximately $22,823,884.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the completion of the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at $22,823,884.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Spector sold 15,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the sale, the chief executive officer now owns 270,604 shares of the company’s stock, valued at $23,591,256.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,802 shares of company stock worth $7,666,108. 17.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently modified their holdings of the company. USA Financial Formulas acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth $25,000. Hexagon Capital Partners LLC grew its holdings in PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares during the period. Parkside Financial Bank & Trust acquired a new stake in PennyMac Financial Services in the fourth quarter worth $36,000. Exchange Traded Concepts LLC acquired a new stake in PennyMac Financial Services in the third quarter worth $57,000. Finally, TFO Wealth Partners LLC grew its holdings in PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.