PennyMac Financial Services, Inc. (NYSE:PFSI) has received an average recommendation of “Buy” from the eleven research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $20.25.
A number of analysts have weighed in on the company. Zacks Investment Research raised PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of PennyMac Financial Services in a research report on Tuesday, September 19th. Finally, ValuEngine cut PennyMac Financial Services from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 17th.
PennyMac Financial Services (NYSE PFSI) traded down 0.81% during midday trading on Thursday, hitting $18.40. The company had a trading volume of 61,228 shares. The company has a market cap of $432.58 million, a price-to-earnings ratio of 6.22 and a beta of 0.62. The firm has a 50-day moving average price of $17.60 and a 200-day moving average price of $17.01. PennyMac Financial Services has a 12 month low of $15.65 and a 12 month high of $19.35.
PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.22). The firm had revenue of $201.72 million during the quarter, compared to analyst estimates of $181.89 million. PennyMac Financial Services had a net margin of 6.87% and a return on equity of 4.79%. Equities analysts anticipate that PennyMac Financial Services will post $2.64 EPS for the current year.
PennyMac Financial Services announced that its board has approved a stock repurchase plan on Wednesday, June 21st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase up to 137% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other news, insider Stanford L. Kurland sold 11,012 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $18.00, for a total value of $198,216.00. Following the completion of the sale, the insider now directly owns 23,402 shares of the company’s stock, valued at approximately $421,236. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David M. Walker sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $17.62, for a total value of $176,200.00. The disclosure for this sale can be found here. Insiders sold a total of 183,565 shares of company stock valued at $3,183,403 over the last three months. Insiders own 45.64% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System lifted its holdings in shares of PennyMac Financial Services by 2.9% in the 2nd quarter. California State Teachers Retirement System now owns 28,126 shares of the real estate investment trust’s stock valued at $470,000 after buying an additional 800 shares during the period. The Manufacturers Life Insurance Company increased its stake in PennyMac Financial Services by 11.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,732 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 1,312 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in PennyMac Financial Services by 23.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,025 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 2,489 shares in the last quarter. State Street Corp increased its stake in PennyMac Financial Services by 4.7% in the 2nd quarter. State Street Corp now owns 232,505 shares of the real estate investment trust’s stock valued at $3,881,000 after purchasing an additional 10,361 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in PennyMac Financial Services by 275.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 50,305 shares of the real estate investment trust’s stock valued at $840,000 after purchasing an additional 36,915 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.
PennyMac Financial Services Company Profile
PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.
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