Keefe, Bruyette & Woods Lowers PennyMac Financial Services (NYSE:PFSI) Price Target to $100.00

PennyMac Financial Services (NYSE:PFSI) had its target price reduced by research analysts at Keefe, Bruyette & Woods from $105.00 to $100.00 in a report released on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 14.94% from the stock’s previous close.

A number of other research analysts also recently commented on PFSI. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Barclays lifted their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. One 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, the stock has an average rating of “Moderate Buy” and an average target price of $97.75.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $87.00 on Friday. The firm’s 50 day simple moving average is $87.83 and its 200-day simple moving average is $83.15. The company has a market cap of $4.39 billion, a P/E ratio of 30.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.67. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37. PennyMac Financial Services has a fifty-two week low of $56.16 and a fifty-two week high of $94.78.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.51%. The firm had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. As a group, equities research analysts predict that PennyMac Financial Services will post 10.58 EPS for the current year.

Insider Transactions at PennyMac Financial Services

In other news, insider James Follette sold 2,617 shares of the business’s stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider James Follette sold 2,617 shares of the business’s stock in a transaction on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Spector sold 26,451 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the completion of the sale, the chief executive officer now owns 647,938 shares of the company’s stock, valued at $55,755,064.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,802 shares of company stock worth $7,666,108. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Several large investors have recently bought and sold shares of PFSI. USA Financial Formulas acquired a new position in PennyMac Financial Services during the 4th quarter valued at $25,000. Hexagon Capital Partners LLC raised its stake in PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust acquired a new position in PennyMac Financial Services during the 4th quarter valued at $36,000. Exchange Traded Concepts LLC acquired a new position in PennyMac Financial Services during the 3rd quarter valued at $57,000. Finally, TFO Wealth Partners LLC raised its stake in PennyMac Financial Services by 16,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,141 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.