Analysts Set PennyMac Financial Services, Inc. (NYSE:PFSI) Target Price at $122.50

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $122.50.

PFSI has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lowered their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Barclays lifted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Wedbush restated an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd.

Insider Activity at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $100.02, for a total value of $1,050,210.00. Following the sale, the chief financial officer now directly owns 225,497 shares in the company, valued at approximately $22,554,209.94. This represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $105.04, for a total value of $1,050,400.00. Following the completion of the sale, the chief executive officer now owns 180,604 shares in the company, valued at approximately $18,970,644.16. This represents a 5.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,844 shares of company stock worth $15,079,791 over the last three months. Company insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of PFSI. FMR LLC boosted its stake in PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after purchasing an additional 815,389 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in PennyMac Financial Services in the third quarter worth $24,644,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of PennyMac Financial Services during the third quarter valued at $21,890,000. State Street Corp lifted its stake in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after acquiring an additional 51,777 shares during the period. Finally, Barclays PLC lifted its stake in shares of PennyMac Financial Services by 505.4% during the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock valued at $6,859,000 after acquiring an additional 50,238 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $109.54 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 0.20 and a beta of 1.78. The stock’s fifty day simple moving average is $103.91 and its 200 day simple moving average is $103.90. PennyMac Financial Services has a 52-week low of $83.03 and a 52-week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company 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 firm earned $1.77 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that PennyMac Financial Services will post 11.76 earnings per share for the current fiscal year.

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.