PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Rating of “Hold” by Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $122.75.

PFSI has been the topic of a number of research reports. Piper Sandler dropped their target price on PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. BTIG Research reissued a “buy” rating on shares of PennyMac Financial Services in a research note on Friday, January 30th. Wall Street Zen raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Keefe, Bruyette & Woods lowered their price target on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, Barclays lowered their price target on PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, May 11th.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $85.63 on Friday. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 0.56 and a beta of 1.49. PennyMac Financial Services has a fifty-two week low of $82.65 and a fifty-two week high of $160.36. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.33 and a quick ratio of 0.34. The business’s 50-day moving average is $88.74 and its 200-day moving average is $111.74.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The business had revenue of $544.98 million during the quarter, compared to analyst estimates of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. PennyMac Financial Services’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 EPS. Equities research analysts expect that PennyMac Financial Services will post 10.68 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. PennyMac Financial Services’s payout ratio is presently 12.75%.

Insider Activity at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 2,925 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $93.30, for a total value of $272,902.50. Following the completion of the sale, the chief financial officer owned 213,550 shares of the company’s stock, valued at approximately $19,924,215. The trade was a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total value of $879,900.00. Following the completion of the sale, the chief executive officer directly owned 60,604 shares of the company’s stock, valued at approximately $5,332,545.96. The trade was a 14.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 61,280 shares of company stock valued at $5,510,753. 15.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC bought a new stake in PennyMac Financial Services during the second quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its position in PennyMac Financial Services by 7,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 228 shares during the period. Strs Ohio bought a new stake in PennyMac Financial Services during the first quarter worth approximately $30,000. Los Angeles Capital Management LLC bought a new stake in PennyMac Financial Services during the fourth quarter worth approximately $31,000. Finally, GAMMA Investing LLC boosted its position in PennyMac Financial Services by 97.3% during the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 142 shares during the period. Institutional investors own 57.87% of the company’s stock.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.