Shares of PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $107.17.
PFSI has been the topic of several research reports. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods lowered 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 note on Monday, July 22nd. Wedbush boosted their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Piper Sandler boosted their target price on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Barclays boosted 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.
Read Our Latest Research Report on PFSI
Insiders Place Their Bets
Hedge Funds Weigh In On PennyMac Financial Services
Hedge funds and other institutional investors have recently modified their holdings of the company. USA Financial Formulas purchased a new position in shares of PennyMac Financial Services in the 4th quarter worth about $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of PennyMac Financial Services in the 4th quarter worth about $36,000. Blue Trust Inc. boosted its holdings in shares of PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings 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 worth $101,000 after purchasing an additional 1,141 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.
PennyMac Financial Services Stock Up 2.8 %
PFSI stock opened at $97.99 on Monday. The stock’s fifty day simple moving average is $94.42 and its two-hundred day simple moving average is $90.64. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services has a 1-year low of $62.15 and a 1-year high of $105.94. The stock has a market cap of $4.99 billion, a P/E ratio of 34.02, a P/E/G ratio of 0.64 and a beta of 1.72.
PennyMac Financial Services (NYSE:PFSI – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.78% and a net margin of 13.13%. The business had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. During the same period in the prior year, the firm posted $1.11 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts expect that PennyMac Financial Services will post 10.54 EPS for the current year.
PennyMac Financial Services Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th will be paid a $0.30 dividend. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio is currently 27.78%.
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.
Further Reading
- Five stocks we like better than PennyMac Financial Services
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Should You Invest in Bitcoin? Pros and Cons
- 3 Stocks to Protect Your Portfolio from the Coronavirus Contagion
- Amazon Stock is Primed to Rebound Strongly After AI Bubble Bursts
- How to Invest in the FAANG Stocks
- Shell Stock: Oil & Gas Giant Committed to Buybacks and Dividends
Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.