PennyMac Financial Services (NYSE:PFSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “PennyMac Financial Services, Inc. provides financial services primarily in the United States. The Company conducts its business in two segments: mortgage banking and investment management. Mortgage banking segment offers correspondent and retail lending businesses and loan servicing business. Investment management segment offers investment advisory and investment management services. PennyMac Financial Services, Inc. is headquartered in Moorpark, California. “
Several other equities research analysts have also recently issued reports on PFSI. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research report on Monday, January 8th. BidaskClub raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Barclays set a $25.00 target price on shares of PennyMac Financial Services and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Finally, ValuEngine raised shares of PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 15th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $23.50.
Shares of PennyMac Financial Services (PFSI) opened at $23.55 on Tuesday. PennyMac Financial Services has a 12 month low of $15.65 and a 12 month high of $24.00. The stock has a market cap of $551.93, a PE ratio of 8.99, a price-to-earnings-growth ratio of 1.61 and a beta of 0.68. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.66.
PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.71. PennyMac Financial Services had a net margin of 6.47% and a return on equity of 4.11%. The business had revenue of $250.64 million for the quarter, compared to analysts’ expectations of $238.59 million. PennyMac Financial Services’s quarterly revenue was down 14.0% compared to the same quarter last year. sell-side analysts predict that PennyMac Financial Services will post 2.29 earnings per share for the current fiscal year.
In related news, insider Anne Mccallion sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $18.50, for a total value of $92,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Spector sold 10,416 shares of the firm’s stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $22.31, for a total transaction of $232,380.96. The disclosure for this sale can be found here. Insiders sold 218,060 shares of company stock worth $4,680,667 in the last 90 days. 45.64% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PFSI. Schwab Charles Investment Management Inc. raised its holdings in PennyMac Financial Services by 63.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 29,800 shares of the real estate investment trust’s stock valued at $498,000 after buying an additional 11,600 shares during the period. Rhumbline Advisers raised its stake in shares of PennyMac Financial Services by 16.7% during the second quarter. Rhumbline Advisers now owns 18,085 shares of the real estate investment trust’s stock valued at $302,000 after purchasing an additional 2,585 shares during the period. Bank of New York Mellon Corp raised its stake in shares of PennyMac Financial Services by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 105,934 shares of the real estate investment trust’s stock valued at $1,769,000 after purchasing an additional 2,352 shares during the period. Victory Capital Management Inc. raised its stake in shares of PennyMac Financial Services by 17.6% during the second quarter. Victory Capital Management Inc. now owns 6,964 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 1,042 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of PennyMac Financial Services by 2.8% during the second quarter. JPMorgan Chase & Co. now owns 397,176 shares of the real estate investment trust’s stock valued at $6,633,000 after purchasing an additional 10,969 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.
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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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