Wedbush Reiterates Outperform Rating for PennyMac Financial Services (NYSE:PFSI)

Wedbush reissued their outperform rating on shares of PennyMac Financial Services (NYSE:PFSI) in a report published on Wednesday, Benzinga reports. They currently have a $130.00 target price on the real estate investment trust’s stock. Wedbush also issued estimates for PennyMac Financial Services’ Q4 2024 earnings at $3.36 EPS, FY2024 earnings at $12.00 EPS, Q1 2025 earnings at $3.46 EPS, Q2 2025 earnings at $3.40 EPS and Q4 2025 earnings at $3.88 EPS.

PFSI has been the subject of several other reports. Piper Sandler increased their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price for the company. in a research note on Monday, July 22nd. Barclays boosted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.86.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $100.88 on Wednesday. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 0.63 and a beta of 1.77. PennyMac Financial Services has a 12 month low of $62.75 and a 12 month high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s 50-day moving average is $107.79 and its 200-day moving average is $98.20.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.28%. The business had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the previous year, the business posted $1.77 EPS. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts anticipate that PennyMac Financial Services will post 11.22 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.19%. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In other news, Director Joseph F. Mazzella sold 11,396 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the sale, the director now owns 105,446 shares of the company’s stock, valued at approximately $10,325,272.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Joseph F. Mazzella sold 11,396 shares of PennyMac Financial Services stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value of $1,115,896.32. Following the completion of the transaction, the director now directly owns 105,446 shares in the company, valued at approximately $10,325,272.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Richard Bailey sold 14,130 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the sale, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,855 shares of company stock valued at $9,647,599 in the last three months. Corporate insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On PennyMac Financial Services

Several large investors have recently added to or reduced their stakes in PFSI. Blue Trust Inc. raised its holdings in shares of PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 262 shares during the period. nVerses Capital LLC bought a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at about $285,000. Creative Planning raised its stake in PennyMac Financial Services by 17.7% during the third quarter. Creative Planning now owns 5,856 shares of the real estate investment trust’s stock worth $667,000 after acquiring an additional 879 shares during the period. SG Americas Securities LLC lifted its holdings in PennyMac Financial Services by 291.8% in the third quarter. SG Americas Securities LLC now owns 11,911 shares of the real estate investment trust’s stock worth $1,357,000 after acquiring an additional 8,871 shares during the last quarter. Finally, Algert Global LLC acquired a new position in PennyMac Financial Services in the second quarter valued at approximately $408,000. 57.87% of the stock is currently owned by institutional investors.

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