PennyMac Financial Services (NYSE:PFSI) Hits New 12-Month Low – Time to Sell?

PennyMac Financial Services, Inc. (NYSE:PFSI) hit a new 52-week low on Wednesday. The company traded as low as $63.03 and last traded at $63.6870, with a volume of 542310 shares. The stock had previously closed at $63.66.

Analyst Ratings Changes

Several analysts recently issued reports on PFSI shares. Barclays reduced their price target on PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Wall Street Zen cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods dropped their target price on PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Wells Fargo & Company reduced their target price on shares of PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Finally, BTIG Research decreased their price target on shares of PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.88.

PennyMac Financial Services Trading Up 0.5%

The firm has a market capitalization of $3.22 billion, a P/E ratio of 8.52, a PEG ratio of 0.58 and a beta of 1.45. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 3.22. The firm has a 50 day moving average of $72.96 and a 200-day moving average of $81.47.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.72). The company had revenue of $496.96 million for the quarter, compared to the consensus estimate of $571.60 million. PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%.PennyMac Financial Services’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business earned $2.54 EPS. On average, equities research analysts predict that PennyMac Financial Services, Inc. will post 7.36 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were given a $0.30 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.9%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 16.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PFSI. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in PennyMac Financial Services during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd raised its position in shares of PennyMac Financial Services by 7,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 228 shares in the last quarter. Silvant Capital Management LLC acquired a new position in shares of PennyMac Financial Services in the 2nd quarter valued at approximately $34,000. Freestone Grove Partners LP acquired a new position in shares of PennyMac Financial Services in the 2nd quarter valued at approximately $41,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of PennyMac Financial Services during the 2nd quarter worth approximately $79,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE:PFSI) is a financial services company focused on the U.S. residential mortgage market. Through its operating subsidiaries, the company originates, acquires, services and manages investments in residential mortgage loans and related assets.

PennyMac’s business includes mortgage loan production through correspondent and consumer-direct channels, mortgage servicing and loan administration, and investment management activities. Its services support homeowners, mortgage originators and institutional investors across the residential lending lifecycle, including loan fulfillment, servicing and asset management.

The company was established in 2008 and serves customers and business partners throughout the United States.