PennyMac Financial Services (PFSI) Given a $24.00 Price Target at Barclays

PennyMac Financial Services (NYSE:PFSI) has been assigned a $24.00 price objective by equities researchers at Barclays in a note issued to investors on Wednesday, July 25th. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Barclays’ price target points to a potential upside of 12.68% from the stock’s current price.

PFSI has been the subject of a number of other reports. Zacks Investment Research upgraded PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 28th. ValuEngine downgraded PennyMac Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. Wells Fargo & Co downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $21.00 price objective for the company. in a research report on Thursday, May 3rd. Finally, Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating in a report on Monday, May 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.80.

Shares of PFSI stock opened at $21.30 on Wednesday. PennyMac Financial Services has a 12 month low of $16.00 and a 12 month high of $25.20. The stock has a market cap of $517.98 million, a PE ratio of 9.68, a PEG ratio of 0.80 and a beta of 0.63. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.27.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. PennyMac Financial Services had a return on equity of 3.91% and a net margin of 11.03%. The firm had revenue of $244.30 million for the quarter, compared to analyst estimates of $241.49 million. equities analysts predict that PennyMac Financial Services will post 2.67 EPS for the current year.

In other PennyMac Financial Services news, insider Anne Mccallion sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $20.24, for a total value of $101,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David M. Walker sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $20.61, for a total value of $206,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 150,891 shares of company stock valued at $3,031,959. 45.64% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. United Services Automobile Association grew its stake in PennyMac Financial Services by 65.5% in the second quarter. United Services Automobile Association now owns 89,948 shares of the real estate investment trust’s stock valued at $1,767,000 after acquiring an additional 35,600 shares during the period. Globeflex Capital L P grew its stake in PennyMac Financial Services by 7.2% in the second quarter. Globeflex Capital L P now owns 62,661 shares of the real estate investment trust’s stock valued at $1,231,000 after acquiring an additional 4,182 shares during the period. Dimensional Fund Advisors LP grew its stake in PennyMac Financial Services by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 785,485 shares of the real estate investment trust’s stock valued at $15,435,000 after acquiring an additional 47,991 shares during the period. Schwab Charles Investment Management Inc. grew its stake in PennyMac Financial Services by 19.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 42,175 shares of the real estate investment trust’s stock valued at $829,000 after acquiring an additional 7,000 shares during the period. Finally, Strs Ohio grew its stake in PennyMac Financial Services by 9.7% in the second quarter. Strs Ohio now owns 32,800 shares of the real estate investment trust’s stock valued at $644,000 after acquiring an additional 2,900 shares during the period. 91.51% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Leveraged Buyout (LBO) Explained

Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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