PennyMac Financial Services (NYSE:PFSI) Earns Outperform Rating from Wedbush

PennyMac Financial Services (NYSE:PFSI)‘s stock had its “outperform” rating restated by analysts at Wedbush in a research note issued to investors on Thursday, Benzinga reports. They presently have a $110.00 target price on the real estate investment trust’s stock. Wedbush’s price target points to a potential upside of 19.47% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of PennyMac Financial Services in a report on Wednesday, January 10th. They set a “buy” rating and a $115.00 price objective on the stock. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $100.00 to $105.00 in a research report on Tuesday, April 9th. Barclays lifted their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $98.75.

PennyMac Financial Services Stock Down 0.8 %

Shares of NYSE PFSI opened at $92.07 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37. The company has a 50-day moving average price of $87.88 and a 200-day moving average price of $82.82. The stock has a market capitalization of $4.64 billion, a P/E ratio of 33.97, a P/E/G ratio of 0.61 and a beta of 1.67. PennyMac Financial Services has a 1 year low of $56.16 and a 1 year high of $94.78.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. The business had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. On average, equities research analysts forecast that PennyMac Financial Services will post 10.41 EPS for the current fiscal year.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services 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 completion of the sale, the insider now directly owns 7,257 shares of the company’s stock, valued at $625,843.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David Spector sold 26,451 shares of the firm’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 value of $2,276,108.55. Following the completion of the transaction, the chief executive officer now directly owns 647,938 shares of the company’s stock, valued at approximately $55,755,064.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James Follette sold 2,617 shares of the company’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 sale, the insider now owns 7,257 shares in the company, valued at $625,843.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,802 shares of company stock worth $7,666,108. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. USA Financial Formulas bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at $25,000. Hexagon Capital Partners LLC grew its stake in shares of PennyMac Financial Services by 128.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 205 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of PennyMac Financial Services in the fourth quarter worth about $36,000. Exchange Traded Concepts LLC purchased a new position in shares of PennyMac Financial Services in the third quarter worth about $57,000. Finally, TFO Wealth Partners LLC lifted its stake in shares of PennyMac Financial Services by 16,300.0% in 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 acquiring an additional 1,141 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other 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.