Wedbush assumed coverage on shares of PennyMac Financial Services (NYSE:PFSI) in a research note released on Friday, Marketbeat reports. The firm issued an outperform rating and a $30.00 price objective on the real estate investment trust’s stock.
A number of other equities research analysts have also weighed in on PFSI. Zacks Investment Research lowered PennyMac Financial Services from a hold rating to a sell rating in a research report on Tuesday, February 13th. Barclays set a $27.00 price objective on PennyMac Financial Services and gave the stock a buy rating in a research report on Sunday, February 11th. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an outperform rating to a market perform rating in a research report on Monday, January 8th. Finally, ValuEngine upgraded PennyMac Financial Services from a buy rating to a strong-buy rating in a research report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. PennyMac Financial Services presently has an average rating of Buy and an average price target of $25.20.
PennyMac Financial Services (NYSE:PFSI) opened at $24.85 on Friday. 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 has a 1 year low of $15.65 and a 1 year high of $25.20. The stock has a market capitalization of $584.70, a P/E ratio of 10.95, a P/E/G ratio of 1.63 and a beta of 0.64.
PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.02). PennyMac Financial Services had a return on equity of 3.62% and a net margin of 10.55%. The company had revenue of $298.63 million for the quarter, compared to the consensus estimate of $238.86 million. During the same quarter in the previous year, the business earned $1.00 earnings per share. PennyMac Financial Services’s revenue was up 3.2% compared to the same quarter last year. analysts predict that PennyMac Financial Services will post 3.05 earnings per share for the current year.
In other news, insider Anne Mccallion sold 1,524 shares of the firm’s stock in a transaction that occurred on Saturday, April 21st. The stock was sold at an average price of $16.60, for a total value of $25,298.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Doug Jones sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $21.95, for a total value of $329,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 292,442 shares of company stock worth $6,482,581. 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. Sterling Capital Management LLC purchased a new position in shares of PennyMac Financial Services in the 4th quarter valued at approximately $615,000. MetLife Investment Advisors LLC purchased a new position in shares of PennyMac Financial Services in the 4th quarter valued at approximately $163,000. Millennium Management LLC purchased a new position in shares of PennyMac Financial Services in the 4th quarter valued at approximately $566,000. TIAA CREF Investment Management LLC lifted its stake in shares of PennyMac Financial Services by 58.8% in the 4th quarter. TIAA CREF Investment Management LLC now owns 64,993 shares of the real estate investment trust’s stock valued at $1,453,000 after purchasing an additional 24,071 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of PennyMac Financial Services in the 4th quarter valued at approximately $1,200,000. Institutional investors own 90.18% 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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