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

PennyMac Financial Services, Inc. (NYSE:PFSI) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $121.17.

A number of analysts have issued reports on the stock. Piper Sandler reduced their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on shares of PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. UBS Group reduced their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a report on Tuesday, April 8th.

Insiders Place Their Bets

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total value of $517,200.00. Following the completion of the transaction, the chief executive officer now directly owns 150,604 shares of the company’s stock, valued at $15,578,477.76. This trade represents a 3.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $99.45, for a total transaction of $1,044,225.00. Following the completion of the transaction, the chief financial officer now directly owns 234,025 shares of the company’s stock, valued at $23,273,786.25. The trade was a 4.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,910 shares of company stock valued at $3,671,336 in the last three months. Corporate insiders own 15.80% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of large investors have recently made changes to their positions in PFSI. Rhumbline Advisers boosted its stake in shares of PennyMac Financial Services by 1.0% during the 4th quarter. Rhumbline Advisers now owns 41,529 shares of the real estate investment trust’s stock worth $4,242,000 after purchasing an additional 414 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of PennyMac Financial Services by 4.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 20,017 shares of the real estate investment trust’s stock worth $2,045,000 after purchasing an additional 766 shares during the period. New York State Common Retirement Fund boosted its stake in shares of PennyMac Financial Services by 6.1% during the 4th quarter. New York State Common Retirement Fund now owns 71,065 shares of the real estate investment trust’s stock worth $7,259,000 after purchasing an additional 4,077 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of PennyMac Financial Services by 22.7% during the 4th quarter. Bank of New York Mellon Corp now owns 198,897 shares of the real estate investment trust’s stock worth $20,315,000 after purchasing an additional 36,800 shares during the period. Finally, MorganRosel Wealth Management LLC boosted its stake in shares of PennyMac Financial Services by 60.4% during the 4th quarter. MorganRosel Wealth Management LLC now owns 11,728 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 4,416 shares during the period. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Price Performance

PFSI stock opened at $97.60 on Thursday. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.30 and a current ratio of 0.30. The company’s fifty day moving average price is $96.63 and its 200-day moving average price is $99.99. PennyMac Financial Services has a one year low of $85.74 and a one year high of $119.13. The company has a market capitalization of $5.04 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.20 and a beta of 1.55.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.99 by ($1.57). The company had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a net margin of 20.27% and a return on equity of 14.78%. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, equities analysts anticipate that PennyMac Financial Services will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.23%. PennyMac Financial Services’s payout ratio is currently 18.40%.

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.