PennyMac Financial Services Inc (NYSE:PFSI) insider Vandad Fartaj sold 616 shares of the firm’s stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $24.00, for a total value of $14,784.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of PennyMac Financial Services Inc (PFSI) traded down $0.05 during mid-day trading on Tuesday, hitting $23.95. The stock had a trading volume of 118,609 shares, compared to its average volume of 201,935. PennyMac Financial Services Inc has a 12-month low of $15.65 and a 12-month high of $25.20. The firm has a market capitalization of $563.52, a price-to-earnings ratio of 5.90, a price-to-earnings-growth ratio of 1.53 and a beta of 0.56. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.70.
PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by ($0.02). PennyMac Financial Services had a net margin of 10.55% and a return on equity of 3.50%. The firm had revenue of $298.63 million for the quarter, compared to analyst estimates of $238.86 million. During the same period in the previous year, the business posted $1.00 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. analysts forecast that PennyMac Financial Services Inc will post 3.13 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. MetLife Investment Advisors LLC acquired a new stake in shares of PennyMac Financial Services during the fourth quarter valued at about $163,000. Citadel Advisors LLC bought a new position in shares of PennyMac Financial Services during the fourth quarter worth about $231,000. Voya Investment Management LLC bought a new position in shares of PennyMac Financial Services during the second quarter worth about $174,000. Victory Capital Management Inc. raised its position in shares of PennyMac Financial Services by 52.0% during the third quarter. Victory Capital Management Inc. now owns 10,585 shares of the real estate investment trust’s stock worth $188,000 after acquiring an additional 3,621 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of PennyMac Financial Services by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,732 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 1,312 shares during the last quarter. 93.29% of the stock is currently owned by hedge funds and other institutional investors.
PFSI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Thursday, January 18th. Barclays set a $27.00 price target on PennyMac Financial Services and gave the company a “buy” rating in a research note on Sunday, February 11th. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Finally, Wedbush assumed coverage on PennyMac Financial Services in a research note on Friday, February 16th. They set an “outperform” rating and a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $26.00.
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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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