PennyMac Financial Services (NYSE:PFSI) Downgraded by StockNews.com

PennyMac Financial Services (NYSE:PFSI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

A number of other equities analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $100.00 to $105.00 in a report on Tuesday, April 9th. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of PennyMac Financial Services in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays raised their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.38.

PennyMac Financial Services Stock Down 6.4 %

Shares of PFSI stock traded down $5.87 during trading hours on Thursday, hitting $86.20. 1,077,164 shares of the company were exchanged, compared to its average volume of 241,158. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. PennyMac Financial Services has a one year low of $56.16 and a one year high of $94.78. The business’s 50-day simple moving average is $87.95 and its two-hundred day simple moving average is $82.89. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, topping the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. The business had revenue of $305.66 million for the quarter, compared to analysts’ expectations of $422.87 million. Sell-side analysts predict that PennyMac Financial Services will post 10.41 EPS for the current fiscal year.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now owns 7,257 shares in the company, valued at $625,843.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider James Follette sold 2,617 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the transaction, the insider now owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total transaction of $907,200.00. Following the completion of the transaction, the chief executive officer now directly owns 250,604 shares of the company’s stock, valued at approximately $22,734,794.88. The disclosure for this sale can be found here. Insiders have sold 87,802 shares of company stock worth $7,666,108 over the last quarter. 17.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new position in PennyMac Financial Services in the 3rd quarter worth approximately $3,370,000. Graham Capital Management L.P. acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $1,237,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $3,657,000. Invesco Ltd. boosted its stake in shares of PennyMac Financial Services by 47.6% during the 3rd quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after buying an additional 158,181 shares during the period. Finally, Deutsche Bank AG boosted its stake in shares of PennyMac Financial Services by 13.4% during the 3rd quarter. Deutsche Bank AG now owns 13,409 shares of the real estate investment trust’s stock valued at $893,000 after buying an additional 1,587 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.