PennyMac Financial Services, Inc. (NYSE:PFSI) Receives $145.43 Consensus Target Price from Brokerages

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned an average rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $150.2857.

A number of equities analysts recently commented on PFSI shares. Zacks Research upgraded PennyMac Financial Services to a “hold” rating in a report on Friday, December 19th. Piper Sandler upped their price objective on shares of PennyMac Financial Services from $140.00 to $146.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Wells Fargo & Company raised their target price on shares of PennyMac Financial Services from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday. Wall Street Zen downgraded shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Weiss Ratings raised shares of PennyMac Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, Director Doug Jones sold 23,453 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $127.56, for a total transaction of $2,991,664.68. Following the transaction, the director owned 19,056 shares in the company, valued at $2,430,783.36. This trade represents a 55.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anne Mccallion sold 27,771 shares of PennyMac Financial Services stock in a transaction on Friday, October 24th. The stock was sold at an average price of $131.55, for a total value of $3,653,275.05. Following the sale, the director directly owned 1,547 shares of the company’s stock, valued at $203,507.85. This represents a 94.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 208,129 shares of company stock valued at $26,957,567. Corporate insiders own 15.80% of the company’s stock.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors have recently made changes to their positions in PFSI. EverSource Wealth Advisors LLC bought a new stake in PennyMac Financial Services during the 2nd quarter worth $26,000. Strs Ohio acquired a new position in shares of PennyMac Financial Services in the first quarter worth approximately $30,000. GAMMA Investing LLC lifted its stake in shares of PennyMac Financial Services by 97.3% in the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 142 shares during the period. Bayforest Capital Ltd bought a new stake in PennyMac Financial Services in the second quarter valued at approximately $62,000. Finally, Harbor Capital Advisors Inc. increased its position in PennyMac Financial Services by 26.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 105 shares during the period. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Up 0.8%

PFSI stock opened at $136.04 on Monday. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 0.62 and a beta of 1.57. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01. PennyMac Financial Services has a twelve month low of $85.74 and a twelve month high of $137.53. The business has a 50 day moving average price of $130.42 and a two-hundred day moving average price of $117.64.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.39. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The firm had revenue of $632.90 million for the quarter, compared to analyst estimates of $573.46 million. During the same period in the prior year, the firm posted $1.30 earnings per share. The company’s quarterly revenue was up 53.7% compared to the same quarter last year. Analysts anticipate that PennyMac Financial Services will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, November 17th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.93%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.