Brokerages Set PennyMac Financial Services, Inc. (NYSE:PFSI) Price Target at $122.17

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $122.17.

Several research analysts have commented on the company. Keefe, Bruyette & Woods cut their target price 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. Piper Sandler lowered their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st.

PennyMac Financial Services Stock Up 2.6 %

Shares of PFSI opened at $97.11 on Tuesday. The company has a market capitalization of $4.99 billion, a PE ratio of 16.63, a PEG ratio of 0.19 and a beta of 1.90. PennyMac Financial Services has a 12 month low of $83.03 and a 12 month high of $119.13. The stock’s 50-day moving average price is $103.10 and its two-hundred day moving average price is $104.98. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22.

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

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Insider Activity at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 16,481 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $101.56, for a total value of $1,673,810.36. Following the completion of the sale, the chief financial officer now directly owns 37,501 shares of the company’s stock, valued at $3,808,601.56. The trade was a 30.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Doug Jones sold 7,882 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $103.16, for a total value of $813,107.12. Following the completion of the sale, the director now directly owns 450,000 shares of the company’s stock, valued at $46,422,000. The trade was a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,697 shares of company stock valued at $15,327,924 in the last three months. Corporate insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. bought a new stake in PennyMac Financial Services during the 4th quarter worth approximately $39,000. Sterling Capital Management LLC increased its holdings in PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 343 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in PennyMac Financial Services during the 4th quarter worth approximately $71,000. Parkside Financial Bank & Trust increased its holdings in PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 389 shares in the last quarter. Finally, KBC Group NV increased its holdings in PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares in the last quarter. 57.87% of the stock is 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.