UBS Group Cuts PennyMac Financial Services (NYSE:PFSI) Price Target to $110.00

PennyMac Financial Services (NYSE:PFSI) had its price target trimmed by UBS Group from $115.00 to $110.00 in a research report released on Wednesday, MarketBeat.com reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

PFSI has been the subject of a number of other reports. Piper Sandler lowered their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.86.

PennyMac Financial Services Trading Down 0.8 %

Shares of PFSI opened at $95.69 on Wednesday. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 0.19 and a beta of 1.73. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services has a 1-year low of $83.03 and a 1-year high of $119.13. The company has a 50-day moving average of $99.59 and a 200 day moving average of $102.99.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, research analysts expect that PennyMac Financial Services will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s payout ratio is presently 20.55%.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, Director Doug Jones sold 8,373 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $102.95, for a total transaction of $862,000.35. Following the sale, the director now owns 19,056 shares in the company, valued at approximately $1,961,815.20. The trade was a 30.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $101.49, for a total value of $1,065,645.00. Following the sale, the chief financial officer now directly owns 214,997 shares of the company’s stock, valued at $21,820,045.53. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,464 shares of company stock valued at $4,540,867 in the last quarter. 16.60% of the stock is currently owned by corporate insiders.

Institutional Trading of PennyMac Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Investment Advisors Inc. boosted its holdings in PennyMac Financial Services by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 154 shares during the last quarter. KBC Group NV grew its holdings in PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 209 shares during the period. Sterling Capital Management LLC lifted its holdings in PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 343 shares during the period. Dakota Wealth Management grew its stake in shares of PennyMac Financial Services by 2.6% during the 4th quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust’s stock worth $1,489,000 after purchasing an additional 374 shares during the period. Finally, TD Waterhouse Canada Inc. acquired a new position in shares of PennyMac Financial Services in the 4th quarter valued at $39,000. 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.