PennyMac Financial Services (PFSI) Posts Earnings Results, Beats Estimates By $0.01 EPS

PennyMac Financial Services (NYSE:PFSI) issued its earnings results on Thursday, November 1st. The real estate investment trust reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.01, Fidelity Earnings reports. PennyMac Financial Services had a return on equity of 3.66% and a net margin of 10.78%. The business had revenue of $250.93 million for the quarter, compared to analyst estimates of $232.08 million.

PFSI stock traded down $0.07 on Friday, reaching $20.68. The company’s stock had a trading volume of 486,659 shares, compared to its average volume of 184,893. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market capitalization of $518.59 million, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 0.82 and a beta of 0.68. PennyMac Financial Services has a 52 week low of $18.30 and a 52 week high of $25.20.

A number of research firms recently weighed in on PFSI. ValuEngine upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Zacks Investment Research cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Barclays set a $24.00 price objective on PennyMac Financial Services and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, Compass Point reaffirmed a “hold” rating and issued a $23.00 target price on shares of PennyMac Financial Services in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $24.60.

In other news, Director Matthew Botein sold 10,000 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $21.12, for a total value of $211,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anne Mccallion sold 5,000 shares of the stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $19.44, for a total value of $97,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,000 shares of company stock valued at $829,150. 45.64% of the stock is currently owned by corporate insiders.

A hedge fund recently raised its stake in PennyMac Financial Services stock. Bank of New York Mellon Corp lifted its stake in PennyMac Financial Services Inc (NYSE:PFSI) by 9.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,858 shares of the real estate investment trust’s stock after purchasing an additional 10,378 shares during the period. Bank of New York Mellon Corp owned 0.50% of PennyMac Financial Services worth $2,375,000 at the end of the most recent quarter. 90.40% of the stock is owned by institutional investors.

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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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Earnings History for PennyMac Financial Services (NYSE:PFSI)

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