PennyMac Financial Services Inc (NYSE:PFSI) Receives $31.00 Average PT from Analysts

PennyMac Financial Services Inc (NYSE:PFSI) has received a consensus recommendation of “Buy” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $31.00.

A number of research firms have recently issued reports on PFSI. Piper Jaffray Companies increased their price target on PennyMac Financial Services from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wells Fargo & Co raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research report on Thursday, September 5th. TheStreet raised 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 target on PennyMac Financial Services from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Finally, ValuEngine downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd.

In related news, insider Stanford L. Kurland sold 45,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $28.25, for a total transaction of $1,271,250.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Anne Mccallion sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $26.73, for a total value of $267,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 130,000 shares of company stock worth $3,792,000. 22.17% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd raised its stake in PennyMac Financial Services by 179.2% in the second quarter. Point72 Hong Kong Ltd now owns 2,010 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,290 shares during the last quarter. Bank of Montreal Can raised its stake in PennyMac Financial Services by 490.0% in the second quarter. Bank of Montreal Can now owns 2,602 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 2,161 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in PennyMac Financial Services in the second quarter valued at about $65,000. SG Americas Securities LLC purchased a new stake in PennyMac Financial Services in the second quarter valued at about $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PennyMac Financial Services by 17.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,472 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 526 shares during the last quarter. 30.45% of the stock is currently owned by institutional investors.

Shares of PFSI traded up $0.35 during midday trading on Monday, reaching $32.78. 486,264 shares of the stock were exchanged, compared to its average volume of 372,457. PennyMac Financial Services has a 52 week low of $18.77 and a 52 week high of $32.95. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.89. The company’s 50 day moving average is $30.81 and its two-hundred day moving average is $25.23. The company has a market capitalization of $2.55 billion, a P/E ratio of 12.01, a PEG ratio of 0.83 and a beta of 0.38.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.92 earnings per share (EPS) for the quarter, topping 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 business had revenue of $302.98 million for the quarter, compared to the consensus estimate of $267.80 million. On average, sell-side analysts expect that PennyMac Financial Services will post 3.92 EPS for the current year.

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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Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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