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

PennyMac Financial Services (NYSE:PFSI) had its price objective reduced by Keefe, Bruyette & Woods from $105.00 to $100.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other equities research analysts also recently commented on PFSI. Wedbush restated an outperform rating and set a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday. StockNews.com downgraded PennyMac Financial Services from a hold rating to a sell rating in a report on Thursday. Barclays boosted their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a buy rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $97.75.

PennyMac Financial Services Trading Up 0.9 %

Shares of PFSI stock opened at $87.00 on Friday. The company has a market cap of $4.39 billion, a P/E ratio of 30.21, a PEG ratio of 0.56 and a beta of 1.67. The stock has a 50 day simple moving average of $87.83 and a two-hundred day simple moving average of $83.05. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current 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 issued its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. The business had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. Research analysts forecast that PennyMac Financial Services will post 10.58 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.92%. PennyMac Financial Services’s payout ratio is 27.78%.

Insiders Place Their Bets

In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the business’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 owns 7,257 shares of the company’s stock, valued at $625,843.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider James Follette sold 2,617 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the transaction, the insider now owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Spector sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $87.18, for a total value of $1,307,700.00. Following the transaction, the chief executive officer now directly owns 270,604 shares in the company, valued at approximately $23,591,256.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,802 shares of company stock valued at $7,666,108. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of PennyMac Financial Services during the 4th quarter valued at $25,000. Hexagon Capital Partners LLC raised its stake in shares of 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 period. Parkside Financial Bank & Trust bought a new stake in shares of PennyMac Financial Services during the 4th quarter valued at $36,000. Exchange Traded Concepts LLC bought a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $57,000. Finally, TFO Wealth Partners LLC raised its stake in shares of 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 period. Hedge funds and other institutional investors 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.