PennyMac Financial Services (NYSE:PFSI) Given New $111.00 Price Target at Keefe, Bruyette & Woods

PennyMac Financial Services (NYSE:PFSI) had its target price trimmed by Keefe, Bruyette & Woods from $112.00 to $111.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a market perform rating on the real estate investment trust’s stock.

A number of other brokerages also recently weighed in on PFSI. Barclays boosted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler boosted their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average price target of $122.50.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $104.11 on Tuesday. PennyMac Financial Services has a 1 year low of $79.71 and a 1 year high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 33.05 and a beta of 1.78. The company has a fifty day moving average price of $104.99 and a 200-day moving average price of $101.46.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the previous year, the company earned $1.77 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts predict that PennyMac Financial Services will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

Insider Activity

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $112.93, for a total value of $1,185,765.00. Following the transaction, the chief financial officer now directly owns 235,997 shares in the company, valued at approximately $26,651,141.21. This represents a 4.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gregory L. Hendry sold 3,032 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the transaction, the chief accounting officer now owns 48,040 shares in the company, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,162 shares of company stock worth $8,540,526 over the last ninety days. Company insiders own 16.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PFSI. Harbor Capital Advisors Inc. bought a new position in PennyMac Financial Services during the third quarter valued at approximately $37,000. Blue Trust Inc. grew its position in PennyMac Financial Services by 1,529.6% during the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 413 shares during the last quarter. KBC Group NV grew its position in PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 226 shares during the last quarter. Quantbot Technologies LP grew its position in PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in PennyMac Financial Services during the third quarter valued at approximately $203,000. 57.87% of the stock is currently owned by 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.