PennyMac Financial Services (NYSE:PFSI) Price Target Lowered to $110.00 at UBS Group

PennyMac Financial Services (NYSE:PFSI) had its price objective decreased by UBS Group from $115.00 to $110.00 in a research note published on Wednesday morning, MarketBeat Ratings reports. UBS Group currently has a neutral rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on PFSI. Piper Sandler dropped their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.86.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $95.69 on Wednesday. The firm’s 50-day simple moving average is $99.59 and its two-hundred day simple moving average is $102.99. PennyMac Financial Services has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The stock has a market cap of $4.92 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. Analysts anticipate that PennyMac Financial Services will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

Insider Buying and Selling

In other PennyMac Financial Services news, insider Mark Elbaum sold 410 shares of PennyMac Financial Services stock in a transaction on Friday, April 4th. The shares were sold at an average price of $102.88, for a total value of $42,180.80. Following the sale, the insider now directly owns 4,207 shares in the company, valued at approximately $432,816.16. The trade was a 8.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Spector sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total value of $517,200.00. Following the transaction, the chief executive officer now owns 150,604 shares of the company’s stock, valued at approximately $15,578,477.76. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,464 shares of company stock valued at $4,540,867. Corporate insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Several hedge funds have recently made changes to their positions in PFSI. HighTower Advisors LLC purchased a new position in shares of PennyMac Financial Services in the 3rd quarter worth approximately $702,000. Barclays PLC lifted its position in PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock worth $6,859,000 after buying an additional 50,238 shares during the last quarter. Geode Capital Management LLC boosted its stake in PennyMac Financial Services by 3.1% during the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after buying an additional 19,662 shares during the period. Tidal Investments LLC increased its position in PennyMac Financial Services by 115.3% during the third quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust’s stock valued at $1,719,000 after acquiring an additional 8,078 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of PennyMac Financial Services by 2.3% in the third 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 period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Company Profile

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.