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

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $122.17.

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Piper Sandler reduced their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Doug Jones sold 8,373 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.95, for a total transaction of $862,000.35. Following the completion of the sale, the director now directly owns 19,056 shares in the company, valued at $1,961,815.20. This represents a 30.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Spector sold 61,120 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $101.72, for a total value of $6,217,126.40. Following the sale, the chief executive officer now owns 634,612 shares of the company’s stock, valued at $64,552,732.64. The trade was a 8.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,697 shares of company stock worth $15,327,924 over the last three months. Insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of PennyMac Financial Services by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock valued at $294,835,000 after acquiring an additional 199,667 shares during the last quarter. FMR LLC lifted its stake in shares of PennyMac Financial Services by 11.9% in the 4th quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock valued at $133,380,000 after acquiring an additional 138,853 shares during the last quarter. Invesco Ltd. lifted its stake in shares of PennyMac Financial Services by 0.3% in the 4th quarter. Invesco Ltd. now owns 1,183,458 shares of the real estate investment trust’s stock valued at $120,878,000 after acquiring an additional 3,527 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of PennyMac Financial Services by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after acquiring an additional 21,751 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after acquiring an additional 51,777 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock opened at $97.11 on Tuesday. PennyMac Financial Services has a 12 month low of $83.03 and a 12 month high of $119.13. The stock’s 50 day moving average is $103.10 and its 200-day moving average is $104.98. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.19 and a beta of 1.90.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. Equities research analysts expect that PennyMac Financial Services will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s payout ratio is presently 20.55%.

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.