PennyMac Financial Services (NYSE:PFSI) Downgraded by StockNews.com

PennyMac Financial Services (NYSE:PFSI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

A number of other research analysts have also issued reports on PFSI. Deutsche Bank Aktiengesellschaft reduced their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, Barclays raised their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.75.

PennyMac Financial Services Stock Up 1.1 %

Shares of PFSI stock traded up $0.98 during trading on Wednesday, reaching $93.93. The company’s stock had a trading volume of 69,924 shares, compared to its average volume of 232,941. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.39 and a quick ratio of 0.39. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $95.18. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 32.61, a P/E/G ratio of 0.61 and a beta of 1.72. The stock’s 50-day moving average price is $91.30 and its 200 day moving average price is $89.03.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The business had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. On average, research analysts anticipate that PennyMac Financial Services will post 10.55 EPS for the current year.

Insider Activity

In other news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total transaction of $907,200.00. Following the transaction, the chief executive officer now owns 250,604 shares in the company, valued at approximately $22,734,794.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total transaction of $907,200.00. Following the transaction, the chief executive officer now owns 250,604 shares of the company’s stock, valued at approximately $22,734,794.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $92.00, for a total value of $1,048,800.00. Following the transaction, the chief financial officer now owns 246,497 shares of the company’s stock, valued at $22,677,724. The disclosure for this sale can be found here. Insiders have sold 87,865 shares of company stock valued at $8,031,769 over the last 90 days. 16.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of PennyMac Financial Services by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock valued at $237,851,000 after purchasing an additional 70,178 shares in the last quarter. Vanguard Group Inc. boosted its stake in PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock valued at $238,509,000 after buying an additional 8,345 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in PennyMac Financial Services by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust’s stock valued at $35,060,000 after buying an additional 3,947 shares during the period. Norges Bank bought a new stake in PennyMac Financial Services during the fourth quarter worth about $31,258,000. Finally, Boston Partners purchased a new position in shares of PennyMac Financial Services in the fourth quarter worth about $28,191,000. 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.