Brokerages Set PennyMac Financial Services, Inc. (NYSE:PFSI) PT at $122.17

PennyMac Financial Services, Inc. (NYSE:PFSI) has been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $122.17.

A number of analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reduced their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. Finally, Piper Sandler lowered their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $100.90 on Friday. PennyMac Financial Services has a 1 year low of $83.03 and a 1 year high of $119.13. The stock’s 50-day moving average price is $103.65 and its two-hundred day moving average price is $104.72. The company has a market cap of $5.17 billion, a PE ratio of 17.28, a PEG ratio of 0.19 and a beta of 1.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.80%. On average, analysts predict that PennyMac Financial Services will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, February 23rd. Investors of record on Thursday, February 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.19%. PennyMac Financial Services’s payout ratio is 20.55%.

Insider Activity at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $104.95, for a total transaction of $1,049,500.00. Following the transaction, the chief executive officer now owns 170,604 shares in the company, valued at $17,904,889.80. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Stanley Perotti sold 16,481 shares of PennyMac Financial Services stock in a transaction on Friday, December 20th. The shares were sold at an average price of $101.56, for a total transaction of $1,673,810.36. Following the completion of the sale, the chief financial officer now directly owns 37,501 shares of the company’s stock, valued at approximately $3,808,601.56. The trade was a 30.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,812 shares of company stock valued at $13,735,289. 16.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new stake in PennyMac Financial Services in the 3rd quarter worth approximately $37,000. TD Waterhouse Canada Inc. bought a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $39,000. Sterling Capital Management LLC lifted its stake in shares of PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 343 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth $71,000. Finally, Blue Trust Inc. grew its stake in PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 262 shares during the last quarter. Institutional investors and hedge funds 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.