PennyMac Financial Services, Inc. (NYSE:PFSI) Stock Has Average Target Price of $103.12 According to Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have received an average recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $101.25.

A number of brokerages have weighed in on PFSI. Keefe, Bruyette & Woods cut their target price on shares of PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $86.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday. Stephens dropped their price target on shares of PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Wells Fargo & Company dropped their price target on shares of PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Barclays cut their price objective on shares of PennyMac Financial Services from $85.00 to $71.00 and set an “equal weight” rating for the company in a report on Monday, October 5th.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its stake in PennyMac Financial Services by 313.2% in the 3rd quarter. GAMMA Investing LLC now owns 438 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 332 shares during the period. Versant Capital Management Inc purchased a new position in PennyMac Financial Services during the 3rd quarter valued at about $71,000. QRG Capital Management Inc. increased its position in shares of PennyMac Financial Services by 7.5% during the second quarter. QRG Capital Management Inc. now owns 3,881 shares of the real estate investment trust’s stock valued at $338,000 after buying an additional 271 shares during the period. BlueCrest Capital Management Ltd increased its position in shares of PennyMac Financial Services by 12.8% during the second quarter. BlueCrest Capital Management Ltd now owns 396,103 shares of the real estate investment trust’s stock valued at $34,501,000 after buying an additional 45,008 shares during the period. Finally, Nykredit A S purchased a new stake in shares of PennyMac Financial Services in the second quarter worth about $195,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Down 2.3%

Shares of NYSE PFSI opened at $59.90 on Wednesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $3.11 billion, a PE ratio of 8.23, a P/E/G ratio of 0.58 and a beta of 1.45. PennyMac Financial Services has a one year low of $59.12 and a one year high of $160.36. The business’s fifty day moving average price is $70.52 and its 200-day moving average price is $80.46.

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

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were given a dividend of $0.30 per share. The ex-dividend date was Monday, August 17th. This represents a $1.20 annualized dividend and a dividend yield of 2.0%. PennyMac Financial Services’s dividend payout ratio is currently 16.48%.

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.