Keefe, Bruyette & Woods Trims PennyMac Financial Services (NYSE:PFSI) Target Price to $100.00

PennyMac Financial Services (NYSE:PFSI) had its price objective trimmed by Keefe, Bruyette & Woods from $105.00 to $100.00 in a research note published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on PennyMac Financial Services from $115.00 to $112.00 and set a buy rating on the stock in a research note on Thursday. Wedbush reaffirmed an outperform rating and set a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday. StockNews.com cut PennyMac Financial Services from a hold rating to a sell rating in a research note on Thursday. Finally, Barclays upped their target price on 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $97.75.

PennyMac Financial Services Trading Up 0.9 %

Shares of PFSI stock opened at $87.00 on Friday. PennyMac Financial Services has a 1 year low of $56.16 and a 1 year high of $94.78. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s 50 day simple moving average is $87.83 and its two-hundred day simple moving average is $83.05. The company has a market cap of $4.39 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. The business had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. Research analysts predict that PennyMac Financial Services will post 10.58 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be paid a $0.20 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 0.92%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 27.78%.

Insider Buying and Selling

In other PennyMac Financial Services news, 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 approximately $23,591,256.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO David Spector sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the completion of the transaction, the chief executive officer now owns 270,604 shares in the company, valued at approximately $23,591,256.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction dated 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 transaction, the chief financial officer now owns 257,897 shares of the company’s stock, valued at approximately $22,823,884.50. The disclosure for this sale can be found here. Insiders have sold a total of 87,802 shares of company stock valued at $7,666,108 over the last quarter. 17.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors have recently modified their holdings of the business. USA Financial Formulas acquired a new stake in shares of PennyMac Financial Services during the 4th quarter valued at about $25,000. Hexagon Capital Partners LLC boosted its holdings in PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 205 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in PennyMac Financial Services in the 4th quarter worth approximately $36,000. Exchange Traded Concepts LLC purchased a new position in PennyMac Financial Services in the 3rd quarter worth approximately $57,000. Finally, TFO Wealth Partners LLC lifted its stake in PennyMac Financial Services by 16,300.0% in the 4th 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 in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.