PennyMac Financial Services Inc (PFSI) Receives Average Recommendation of “Buy” from Analysts

PennyMac Financial Services Inc (NYSE:PFSI) has received a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $23.00.

A number of research analysts have recently weighed in on PFSI shares. JMP Securities restated a “hold” rating on shares of PennyMac Financial Services in a research report on Wednesday, March 6th. Wedbush restated an “outperform” rating on shares of PennyMac Financial Services in a research report on Thursday. Finally, Barclays set a $25.00 price target on PennyMac Financial Services and gave the company a “buy” rating in a research report on Friday, December 14th.

PennyMac Financial Services stock traded up $0.13 during midday trading on Thursday, reaching $22.64. The company’s stock had a trading volume of 128,054 shares, compared to its average volume of 277,913. PennyMac Financial Services has a fifty-two week low of $18.77 and a fifty-two week high of $24.50. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market cap of $1.74 billion, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 0.80 and a beta of 0.44.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, February 7th. The real estate investment trust reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. PennyMac Financial Services had a return on equity of 4.85% and a net margin of 8.91%. The company had revenue of $251.20 million during the quarter, compared to the consensus estimate of $238.79 million. Sell-side analysts predict that PennyMac Financial Services will post 2.81 EPS for the current year.

In other news, insider Anne Mccallion sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $20.78, for a total value of $103,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 66,200 shares of company stock valued at $1,487,135. Company insiders own 42.06% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in PennyMac Financial Services by 128.0% during the 4th quarter. Geode Capital Management LLC now owns 485,064 shares of the real estate investment trust’s stock worth $10,312,000 after purchasing an additional 272,320 shares in the last quarter. Nordea Investment Management AB increased its position in PennyMac Financial Services by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 102,265 shares of the real estate investment trust’s stock worth $2,174,000 after purchasing an additional 865 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in PennyMac Financial Services by 223.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,344 shares of the real estate investment trust’s stock worth $135,000 after purchasing an additional 4,380 shares in the last quarter. Squarepoint Ops LLC increased its position in PennyMac Financial Services by 93.0% during the 4th quarter. Squarepoint Ops LLC now owns 40,165 shares of the real estate investment trust’s stock worth $854,000 after purchasing an additional 19,352 shares in the last quarter. Finally, Bank of America Corp DE increased its position in PennyMac Financial Services by 35.5% during the 4th quarter. Bank of America Corp DE now owns 22,554 shares of the real estate investment trust’s stock worth $480,000 after purchasing an additional 5,914 shares in the last quarter. Hedge funds and other institutional investors own 30.31% of the company’s stock.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc a specialty financial services company, engages in the mortgage banking and investment management activities in the United States. It is involved in the origination, acquisition, and sale of mortgage loans. The company originates first-lien residential conventional and government-insured or guaranteed mortgage loans to allow customers to purchase or refinance their homes.

See Also: Fiduciary

Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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