Deutsche Bank Aktiengesellschaft Cuts PennyMac Financial Services (NYSE:PFSI) Price Target to $112.00

PennyMac Financial Services (NYSE:PFSI) had its target price cut by Deutsche Bank Aktiengesellschaft from $115.00 to $112.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on PFSI. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a market perform rating to an outperform rating and upped their price objective for the company from $100.00 to $105.00 in a research note on Tuesday, April 9th. Barclays increased their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Wedbush reiterated an outperform rating and set a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday. Finally, StockNews.com raised PennyMac Financial Services from a sell rating to a hold rating in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $98.38.

PennyMac Financial Services Price Performance

PFSI stock opened at $85.37 on Thursday. PennyMac Financial Services has a 12-month low of $56.16 and a 12-month high of $94.78. The stock has a 50-day moving average price of $87.95 and a two-hundred day moving average price of $82.89. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90. The company has a market cap of $4.31 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. The company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. As a group, research analysts predict that PennyMac Financial Services will post 10.41 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.94%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.

Insider Activity

In other news, insider James Follette sold 2,617 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the completion of the sale, the insider now owns 7,257 shares in the company, valued at approximately $625,843.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the sale, the chief executive officer now directly owns 250,604 shares of the company’s stock, valued at $22,734,794.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Follette sold 2,617 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the sale, the insider now directly owns 7,257 shares in the company, valued at $625,843.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,802 shares of company stock worth $7,666,108. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PFSI. Dakota Wealth Management increased its holdings in shares of PennyMac Financial Services by 5.4% in the first quarter. Dakota Wealth Management now owns 21,230 shares of the real estate investment trust’s stock valued at $1,934,000 after purchasing an additional 1,083 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of PennyMac Financial Services in the first quarter valued at approximately $6,182,000. Denali Advisors LLC increased its holdings in shares of PennyMac Financial Services by 179.2% in the first quarter. Denali Advisors LLC now owns 41,600 shares of the real estate investment trust’s stock valued at $3,789,000 after purchasing an additional 26,700 shares in the last quarter. MorganRosel Wealth Management LLC increased its holdings in shares of PennyMac Financial Services by 2.2% in the first quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock valued at $985,000 after purchasing an additional 236 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at approximately $967,000. Institutional investors own 57.87% of the company’s stock.

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.