PennyMac Financial Services (NYSE:PFSI) was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday, November 15th.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research lowered PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 25th. BidaskClub upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Piper Jaffray Companies restated a “buy” rating on shares of PennyMac Financial Services in a report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.33.
PennyMac Financial Services (NYSE:PFSI) remained flat at $$21.35 during trading hours on Wednesday. 322,946 shares of the stock were exchanged, compared to its average volume of 179,500. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.16 and a current ratio of 0.16. PennyMac Financial Services has a fifty-two week low of $15.65 and a fifty-two week high of $21.85. The company has a market cap of $497.21, a PE ratio of 8.15, a PEG ratio of 1.87 and a beta of 0.68.
PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. The business had revenue of $250.64 million during the quarter, compared to analyst estimates of $238.59 million. PennyMac Financial Services had a return on equity of 4.11% and a net margin of 6.47%. PennyMac Financial Services’s quarterly revenue was down 14.0% on a year-over-year basis. analysts expect that PennyMac Financial Services will post 2.29 earnings per share for the current fiscal year.
In other news, insider Stanford L. Kurland sold 11,702 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $20.00, for a total transaction of $234,040.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 5,442 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $19.42, for a total value of $105,683.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,010 shares of company stock valued at $3,547,796. Corporate insiders own 45.64% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mangrove Partners bought a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $12,760,000. PEAK6 Investments L.P. bought a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $248,000. Dimensional Fund Advisors LP increased its position in shares of PennyMac Financial Services by 17.7% during the third quarter. Dimensional Fund Advisors LP now owns 625,742 shares of the real estate investment trust’s stock valued at $11,138,000 after purchasing an additional 93,918 shares during the period. Nordea Investment Management AB increased its position in shares of PennyMac Financial Services by 2.8% during the third quarter. Nordea Investment Management AB now owns 146,700 shares of the real estate investment trust’s stock valued at $2,611,000 after purchasing an additional 4,000 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $264,000. Institutional investors and hedge funds own 90.83% of the company’s stock.
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About PennyMac Financial Services
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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