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

Wedbush restated their outperform rating on shares of PennyMac Financial Services (NYSE:PFSI) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $130.00 price objective on the real estate investment trust’s stock. Wedbush also issued estimates for PennyMac Financial Services’ Q4 2024 earnings at $3.36 EPS, FY2024 earnings at $12.00 EPS, Q1 2025 earnings at $3.46 EPS, Q2 2025 earnings at $3.40 EPS and Q4 2025 earnings at $3.88 EPS.

Other research analysts have also issued research reports about the company. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Piper Sandler increased their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays raised their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $115.86.

PennyMac Financial Services Stock Down 0.2 %

Shares of PennyMac Financial Services stock opened at $100.88 on Wednesday. PennyMac Financial Services has a one year low of $62.75 and a one year high of $119.13. The company has a market cap of $5.16 billion, a P/E ratio of 32.03, a PEG ratio of 0.63 and a beta of 1.77. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a fifty day moving average of $107.79 and a two-hundred day moving average of $98.20.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.28%. The firm had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the previous year, the business earned $1.77 EPS. PennyMac Financial Services’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts forecast that PennyMac Financial Services will post 11.22 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, November 18th. PennyMac Financial Services’s payout ratio is currently 38.10%.

Insider Activity

In related news, insider Steven Richard Bailey sold 14,130 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the sale, the insider now owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Joseph F. Mazzella sold 11,396 shares of PennyMac Financial Services stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the sale, the director now directly owns 105,446 shares in the company, valued at $10,325,272.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the transaction, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,855 shares of company stock worth $9,647,599 over the last ninety days. 16.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 413 shares during the period. Hexagon Capital Partners LLC grew its holdings in PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 109 shares during the period. SG Americas Securities LLC acquired a new position in shares of PennyMac Financial Services during the 1st quarter valued at about $202,000. nVerses Capital LLC purchased a new position in shares of PennyMac Financial Services during the 3rd quarter worth about $285,000. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of PennyMac Financial Services in the second quarter worth approximately $255,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.