PennyMac Financial Services (PFSI) Shares Up 6.1%

PennyMac Financial Services Inc (NYSE:PFSI) shares shot up 6.1% on Friday . The stock traded as high as $23.92 and last traded at $23.34. 579,189 shares were traded during mid-day trading, an increase of 124% from the average session volume of 258,866 shares. The stock had previously closed at $22.00.

Several analysts have recently issued reports on PFSI shares. Wedbush reaffirmed an “outperform” rating on shares of PennyMac Financial Services in a report on Thursday, April 4th. JMP Securities reaffirmed a “hold” rating on shares of PennyMac Financial Services in a report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $24.00.

The firm has a market capitalization of $1.81 billion, a PE ratio of 9.01, a P/E/G ratio of 0.83 and a beta of 0.43. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.17 and a quick ratio of 0.17.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.04). The firm had revenue of $247.71 million for the quarter, compared to analysts’ expectations of $246.88 million. PennyMac Financial Services had a return on equity of 4.85% and a net margin of 8.91%. Analysts predict that PennyMac Financial Services Inc will post 2.9 EPS for the current year.

In related news, CEO David Spector sold 39,940 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $22.60, for a total transaction of $902,644.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anne Mccallion sold 3,463 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $22.25, for a total value of $77,051.75. The disclosure for this sale can be found here. Insiders have sold a total of 116,140 shares of company stock worth $2,633,679 over the last ninety days. Insiders own 22.17% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in PFSI. Bessemer Group Inc. purchased a new position in PennyMac Financial Services during the fourth quarter valued at approximately $117,000. Citigroup Inc. boosted its stake in PennyMac Financial Services by 10.6% in the fourth quarter. Citigroup Inc. now owns 5,982 shares of the real estate investment trust’s stock valued at $127,000 after acquiring an additional 573 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in PennyMac Financial Services by 223.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,344 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 4,380 shares during the period. PEAK6 Investments LLC acquired a new position in PennyMac Financial Services in the fourth quarter valued at approximately $248,000. Finally, Stone Ridge Asset Management LLC acquired a new position in PennyMac Financial Services in the fourth quarter valued at approximately $257,000. Institutional investors own 30.30% of the company’s stock.

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PennyMac Financial Services Company Profile (NYSE:PFSI)

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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