PennyMac Financial Services, Inc. (NYSE: PFSI) has been given an average “buy” recommendation from the nine brokerages currently hedging the stock, reports Marketbeat.com. Three investment analysts rated the stock with a keep recommendation and six gave the company a buy recommendation. The year-over-year average price target among brokerage firms that reported on the stock in the past year is $ 87.38.
Several research analysts recently weighed in on the stock. Piper Sandler raised her price target for the PennyMac Financial Services stock from $ 93.00 to $ 109.00 and rated the stock “overweight” in a report released on Friday August 6. Wedbush raised its price target on PennyMac Financial Services shares from $ 75.00 to $ 90.00 and gave the company an “outperformance” rating in a report released on Monday August 16. Credit Suisse Group raised its price target on PennyMac Financial Services shares from $ 72.00 to $ 84.00 and gave the company an “outperformance” rating in a research report published on Monday, August 9. Zacks investment research downgraded PennyMac Financial Services shares from a “buy” rating to a “custody” rating in a research report released on Saturday, November 13. Finally, Barclays increased its price target on PennyMac Financial Services shares from $ 89.00 to $ 103.00 and assigned the company an “overweight” rating in a research report released on Friday August 6.
In related news, CEO David spector sold 15,000 shares of the company in a trade on Thursday, November 18. The stock was sold at an average price of $ 62.28, for a total trade of $ 934,200.00. The sale was disclosed in a legal file with the SEC, which can be accessed through the SEC website. Also, director Farhad Nanji acquired 126,379 shares of PennyMac Financial Services in a transaction that took place on Friday, November 19. The shares were purchased at an average price of $ 63.77 per share, for a total transaction of $ 8,059,188.83. Disclosure of this purchase can be found here. 12.90% of the shares are currently held by insiders of the company.
A number of hedge funds have recently bought and sold shares of PFSI. The Canada Pension Plan Investment Board purchased a new stake in PennyMac Financial Services in the second quarter valued at $ 48,000. Wolverine Asset Management LLC purchased a new equity stake in PennyMac Financial Services during the third quarter valued at approximately $ 72,000. FORA Capital LLC purchased a new equity stake in PennyMac Financial Services during the second quarter valued at approximately $ 188,000. Macquarie Group Ltd. increased its stake in PennyMac Financial Services shares by 34.8% in the second quarter. Macquarie Group Ltd. now owns 3,120 real estate investment trust shares valued at $ 193,000 after purchasing an additional 805 shares last quarter. Finally, Verition Fund Management LLC purchased a new equity stake in PennyMac Financial Services during the third quarter for a value of approximately $ 220,000. Institutional investors hold 57.91% of the company’s shares.
NYSE: PFSI traded at $ 0.72 on Friday, reaching $ 65.04. The stock had a trading volume of 375,678 shares, compared to its average volume of 738,240. The company has a market cap of $ 3.84 billion, a price / earnings ratio of 3.64 and a beta of. 1.19. The company has a debt to equity ratio of 2.64, a current ratio of 0.26, and a rapid ratio of 0.18. The company’s fifty-day moving average is $ 64.23 and its two-hundred-day moving average is $ 63.37. PennyMac Financial Services has a 12-month low of $ 55.11 and a 12-month high of $ 70.99.
PennyMac Financial Services (NYSE: PFSI) last announced its quarterly earnings data on Thursday, November 4. The REIT reported earnings of $ 3.80 per share for the quarter, beating Thomson Reuters consensus estimate of $ 3.31 by $ 0.49. The company posted revenue of $ 786.61 million for the quarter, compared to analysts’ estimates of $ 832.20 million. PennyMac Financial Services had a net margin of 36.50% and a return on equity of 36.99%. The company’s revenue was down 29.8% year-on-year. During the same period of the previous year, the company posted $ 7.03 EPS. As a group, research analysts predict that PennyMac Financial Services will post earnings per share of 20.36 for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 24. Shareholders of record on Monday, November 15 received a dividend of $ 0.20 per share. This represents a dividend of $ 0.80 on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, November 12. PennyMac Financial Services’ payout ratio is currently 4.48%.
PennyMac Financial Services Company Profile
PennyMac Financial Services, Inc. operates as a holding company. The company is engaged in the production and management of residential mortgages in the United States. It operates through the following segments: production, maintenance and investment management. The Production segment includes the activities of originating, acquiring and selling mortgage loans.
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