PennyMac Financial Services (NYSE:PFSI) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of PennyMac Financial Services (NYSE:PFSI) from a sell rating to a hold rating in a report released on Friday morning.

Several other equities research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on PennyMac Financial Services from $115.00 to $112.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Wedbush restated an outperform rating and set a $110.00 price target on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Barclays upped their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of PennyMac Financial Services from $105.00 to $100.00 and set an outperform rating for the company in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PennyMac Financial Services currently has an average rating of Moderate Buy and a consensus target price of $97.75.

PennyMac Financial Services Stock Up 3.4 %

PFSI stock opened at $90.94 on Friday. PennyMac Financial Services has a 12-month low of $56.16 and a 12-month high of $94.78. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 0.57 and a beta of 1.68. The company has a 50 day moving average of $87.86 and a two-hundred day moving average of $83.75.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results 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 return on equity of 10.48% and a net margin of 10.94%. The firm had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. On average, equities analysts anticipate that PennyMac Financial Services will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, May 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.

Insider Buying and Selling

In other news, insider James Follette sold 2,617 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider James Follette sold 2,617 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Spector sold 26,451 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the transaction, the chief executive officer now owns 647,938 shares of the company’s stock, valued at approximately $55,755,064.90. The disclosure for this sale can be found here. Insiders sold a total of 87,802 shares of company stock valued at $7,666,108 over the last ninety days. Insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

A number of large investors have recently bought and sold shares of PFSI. SG Americas Securities LLC lifted its holdings in shares of PennyMac Financial Services by 283.2% in the third quarter. SG Americas Securities LLC now owns 10,415 shares of the real estate investment trust’s stock valued at $694,000 after purchasing an additional 7,697 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $57,000. Bank of New York Mellon Corp lifted its position in shares of PennyMac Financial Services by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 234,486 shares of the real estate investment trust’s stock worth $15,617,000 after purchasing an additional 7,251 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in PennyMac Financial Services by 13.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,076 shares of the real estate investment trust’s stock worth $538,000 after purchasing an additional 944 shares during the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in PennyMac Financial Services in the third quarter valued at $629,000. 57.87% of the stock is owned by institutional investors.

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.