PennyMac Financial Services Inc (NYSE:PFSI) Receives Average Rating of “Buy” from Brokerages

PennyMac Financial Services Inc (NYSE:PFSI) has been given a consensus rating of “Buy” by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $31.00.

PFSI has been the topic of several research analyst reports. Piper Jaffray Companies upped their price objective on PennyMac Financial Services from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. TheStreet raised PennyMac Financial Services from a “c+” rating to a “b+” rating in a research report on Wednesday, August 14th. Wells Fargo & Co raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research report on Thursday, September 5th. Zacks Investment Research raised PennyMac Financial Services from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a research report on Wednesday, July 17th. Finally, Credit Suisse Group upped 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, August 21st.

PennyMac Financial Services stock traded up $0.27 during mid-day trading on Monday, hitting $33.05. The company’s stock had a trading volume of 548,400 shares, compared to its average volume of 300,657. The company has a 50 day moving average of $30.81 and a 200-day moving average of $25.23. The stock has a market cap of $2.55 billion, a PE ratio of 12.76, a P/E/G ratio of 0.83 and a beta of 0.38. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.19 and a current ratio of 0.19. PennyMac Financial Services has a one year low of $18.77 and a one year high of $33.45.

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 the Thomson Reuters’ consensus estimate of $0.77 by $0.15. The company had revenue of $302.98 million for the quarter, compared to the consensus estimate of $267.80 million. PennyMac Financial Services had a return on equity of 9.76% and a net margin of 16.34%. On average, equities research analysts forecast that PennyMac Financial Services will post 3.92 EPS for the current fiscal year.

In other news, Chairman Stanford L. Kurland sold 45,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $30.71, for a total transaction of $1,381,950.00. Also, Director Anne Mccallion sold 10,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $24.34, for a total value of $243,400.00. The disclosure for this sale can be found here. Insiders sold a total of 130,000 shares of company stock worth $3,792,000 in the last ninety days. 22.17% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of PFSI. Point72 Hong Kong Ltd grew its position in shares of PennyMac Financial Services by 179.2% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,010 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,290 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of PennyMac Financial Services by 490.0% during the 2nd quarter. Bank of Montreal Can now owns 2,602 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 2,161 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of PennyMac Financial Services during the 2nd quarter worth $65,000. SG Americas Securities LLC purchased a new stake in shares of PennyMac Financial Services during the 2nd quarter worth $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of PennyMac Financial Services by 17.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 526 shares during the last quarter. 30.57% 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. 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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Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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