PennyMac Financial Services Inc (PFSI) Receives Average Recommendation of “Buy” from Brokerages

PennyMac Financial Services Inc (NYSE:PFSI) has received a consensus rating of “Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.50.

Several research analysts have recently commented on PFSI shares. Barclays set a $25.00 price objective on PennyMac Financial Services and gave the stock a “buy” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Tuesday, December 26th. Wedbush started coverage on PennyMac Financial Services in a report on Friday, February 16th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th.

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PFSI stock traded down $0.60 during midday trading on Friday, reaching $22.60. The company’s stock had a trading volume of 90,998 shares, compared to its average volume of 157,923. PennyMac Financial Services has a twelve month low of $15.65 and a twelve month high of $25.20. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $531.76, a P/E ratio of 5.57, a price-to-earnings-growth ratio of 1.45 and a beta of 0.56.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). PennyMac Financial Services had a net margin of 10.55% and a return on equity of 3.50%. The firm had revenue of $298.63 million for the quarter, compared to analysts’ expectations of $238.86 million. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. analysts expect that PennyMac Financial Services will post 3.13 earnings per share for the current year.

In other news, insider Anne Mccallion sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $23.82, for a total value of $119,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew Botein sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $22.17, for a total value of $221,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 286,479 shares of company stock worth $6,578,218. Company insiders own 45.64% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC bought a new stake in shares of PennyMac Financial Services in the fourth quarter worth about $163,000. Citadel Advisors LLC bought a new stake in shares of PennyMac Financial Services in the fourth quarter worth about $231,000. Voya Investment Management LLC bought a new stake in shares of PennyMac Financial Services in the second quarter worth about $174,000. Victory Capital Management Inc. grew its stake in shares of PennyMac Financial Services by 52.0% in the third quarter. Victory Capital Management Inc. now owns 10,585 shares of the real estate investment trust’s stock worth $188,000 after purchasing an additional 3,621 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of PennyMac Financial Services by 11.5% in the second quarter. The Manufacturers Life Insurance Company now owns 12,732 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 1,312 shares during the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.

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PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.

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