Keefe, Bruyette & Woods Issues Positive Forecast for PennyMac Financial Services (NYSE:PFSI) Stock Price

PennyMac Financial Services (NYSE:PFSI) had its price objective boosted by equities researchers at Keefe, Bruyette & Woods from $138.00 to $143.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 9.88% from the company’s current price.

A number of other brokerages have also recently issued reports on PFSI. Weiss Ratings reiterated a “hold (c+)” rating on shares of PennyMac Financial Services in a research note on Friday, October 31st. Wells Fargo & Company lifted their price target on PennyMac Financial Services from $115.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Wall Street Zen upgraded shares of PennyMac Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Barclays lifted their target price on shares of PennyMac Financial Services from $136.00 to $139.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.50.

PennyMac Financial Services Trading Down 0.2%

NYSE:PFSI opened at $130.14 on Thursday. The firm has a market capitalization of $6.76 billion, a P/E ratio of 14.02 and a beta of 1.58. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.36 and a quick ratio of 0.36. PennyMac Financial Services has a one year low of $85.74 and a one year high of $136.62. The company’s 50-day simple moving average is $127.29 and its 200 day simple moving average is $113.65.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.39. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The business had revenue of $632.90 million during the quarter, compared to the consensus estimate of $573.46 million. During the same quarter last year, the firm earned $1.30 earnings per share. The business’s revenue for the quarter was up 53.7% on a year-over-year basis. As a group, analysts forecast that PennyMac Financial Services will post 13.77 EPS for the current fiscal year.

Insider Activity at PennyMac Financial Services

In other news, Director Anne Mccallion sold 27,771 shares of the firm’s stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $131.55, for a total transaction of $3,653,275.05. Following the sale, the director owned 1,547 shares of the company’s stock, valued at $203,507.85. This trade represents a 94.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Doug Jones sold 23,453 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $127.56, for a total transaction of $2,991,664.68. Following the transaction, the director directly owned 19,056 shares of the company’s stock, valued at $2,430,783.36. The trade was a 55.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 209,599 shares of company stock worth $27,050,778 over the last quarter. 15.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new stake in shares of PennyMac Financial Services in the second quarter worth $26,000. Strs Ohio bought a new stake in shares of PennyMac Financial Services during the 1st quarter valued at about $30,000. Bayforest Capital Ltd bought a new stake in shares of PennyMac Financial Services during the 2nd quarter valued at about $62,000. Harbor Capital Advisors Inc. increased its position in shares of PennyMac Financial Services by 26.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 105 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of PennyMac Financial Services by 92.7% in the 3rd quarter. CWM LLC now owns 555 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 267 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.