PennyMac Financial Services Inc (NYSE:PFSI) Given Consensus Rating of “Buy” by Brokerages

Shares of PennyMac Financial Services Inc (NYSE:PFSI) have been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $26.67.

A number of brokerages have recently commented on PFSI. TheStreet upgraded PennyMac Financial Services from a “c+” rating to a “b+” rating in a research report on Wednesday, August 14th. Credit Suisse Group increased their price objective on PennyMac Financial Services from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Zacks Investment Research upgraded PennyMac Financial Services from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, July 17th.

Shares of NYSE:PFSI traded up $0.07 on Friday, reaching $28.50. 370,551 shares of the company traded hands, compared to its average volume of 295,265. PennyMac Financial Services has a fifty-two week low of $18.77 and a fifty-two week high of $28.83. The company’s 50 day moving average is $24.85 and its 200-day moving average is $23.01. The stock has a market capitalization of $2.23 billion, a PE ratio of 11.00, a P/E/G ratio of 0.85 and a beta of 0.48. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.19 and a quick ratio of 0.19.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.15. PennyMac Financial Services had a return on equity of 9.76% and a net margin of 16.34%. The company had revenue of $302.98 million during the quarter, compared to the consensus estimate of $267.80 million. As a group, analysts expect that PennyMac Financial Services will post 3.36 EPS for the current year.

In other news, insider Stanford L. Kurland sold 45,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $28.25, for a total value of $1,271,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stanford L. Kurland sold 11,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $22.94, for a total value of $252,340.00. The disclosure for this sale can be found here. Insiders sold 211,000 shares of company stock valued at $4,993,940 in the last 90 days. Corporate insiders own 22.17% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFSI. United Services Automobile Association grew its position in shares of PennyMac Financial Services by 8.3% in the second quarter. United Services Automobile Association now owns 118,162 shares of the real estate investment trust’s stock valued at $2,621,000 after purchasing an additional 9,014 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in PennyMac Financial Services during the second quarter worth about $6,812,000. Price T Rowe Associates Inc. MD grew its position in PennyMac Financial Services by 8.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,080,275 shares of the real estate investment trust’s stock worth $134,860,000 after buying an additional 472,076 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in PennyMac Financial Services during the second quarter worth about $977,000. Finally, Jane Street Group LLC acquired a new stake in PennyMac Financial Services during the second quarter worth about $723,000. Institutional investors own 32.00% of the company’s stock.

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.

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