PennyMac Financial Services Inc (PFSI) Given Average Recommendation of “Buy” by Brokerages

Shares of PennyMac Financial Services Inc (NYSE:PFSI) have been given a consensus rating of “Buy” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $28.33.

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Zacks Investment Research downgraded shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Wells Fargo assumed coverage on shares of PennyMac Financial Services in a report on Wednesday, April 4th. They set an “outperform” rating and a $28.00 price target for the company. Barclays set a $27.00 price target on shares of PennyMac Financial Services and gave the stock a “buy” rating in a report on Sunday, February 11th. Finally, Wedbush assumed coverage on shares of PennyMac Financial Services in a report on Friday, February 16th. They set an “outperform” rating and a $30.00 price target for the company.

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PFSI traded up $0.10 during trading on Thursday, hitting $21.65. 14,937 shares of the stock traded hands, compared to its average volume of 188,320. PennyMac Financial Services has a twelve month low of $15.65 and a twelve month high of $25.20. The company has a market cap of $514.11, a P/E ratio of 9.63, a P/E/G ratio of 1.37 and a beta of 0.57. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.17 and a quick ratio of 0.17.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.65 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.02). PennyMac Financial Services had a net margin of 10.55% and a return on equity of 3.50%. The firm had revenue of $298.63 million for the quarter, compared to analyst estimates of $238.86 million. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. analysts expect that PennyMac Financial Services will post 3.2 earnings per share for the current fiscal year.

In related news, CFO Daniel Stanley Perotti sold 16,325 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $24.39, for a total value of $398,166.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anne Mccallion sold 10,000 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $23.14, for a total transaction of $231,400.00. The disclosure for this sale can be found here. Insiders have sold 450,148 shares of company stock valued at $10,357,130 over the last quarter. Company insiders own 45.64% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Basswood Capital Management L.L.C. boosted its position in PennyMac Financial Services by 11.8% during the fourth quarter. Basswood Capital Management L.L.C. now owns 1,784,748 shares of the real estate investment trust’s stock valued at $39,889,000 after acquiring an additional 188,309 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of PennyMac Financial Services by 17.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 625,742 shares of the real estate investment trust’s stock worth $11,138,000 after purchasing an additional 93,918 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PennyMac Financial Services by 12.6% during the 4th quarter. Geode Capital Management LLC now owns 169,891 shares of the real estate investment trust’s stock worth $3,796,000 after purchasing an additional 19,074 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of PennyMac Financial Services by 59.9% during the 4th quarter. Wells Fargo & Company MN now owns 124,748 shares of the real estate investment trust’s stock worth $2,787,000 after purchasing an additional 46,723 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of PennyMac Financial Services during the 4th quarter worth about $2,534,000. 93.29% of the stock is currently owned by institutional investors and hedge funds.

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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. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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