PennyMac Financial Services Inc (NYSE:PFSI) insider Stanford L. Kurland sold 15,750 shares of the firm’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $21.72, for a total transaction of $342,090.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of PFSI traded down $0.20 during trading hours on Tuesday, hitting $21.35. The company’s stock had a trading volume of 88,912 shares, compared to its average volume of 189,375. The company has a market capitalization of $514.11, a price-to-earnings ratio of 9.70, a PEG ratio of 1.37 and a beta of 0.57. 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 Inc has a 52-week low of $15.65 and a 52-week high of $25.20.
PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.02). The business had revenue of $298.63 million during the quarter, compared to analysts’ expectations of $238.86 million. PennyMac Financial Services had a return on equity of 3.50% and a net margin of 10.55%. PennyMac Financial Services’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. sell-side analysts expect that PennyMac Financial Services Inc will post 3.2 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of PFSI. MetLife Investment Advisors LLC purchased a new position in shares of PennyMac Financial Services in the fourth quarter worth about $163,000. Citadel Advisors LLC purchased a new position in shares of PennyMac Financial Services in the fourth quarter worth about $231,000. SG Americas Securities LLC purchased a new position in shares of PennyMac Financial Services in the third quarter worth about $264,000. Millennium Management LLC bought a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $566,000. Finally, Bessemer Group Inc. bought a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $590,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.
A number of analysts recently issued reports on PFSI shares. Zacks Investment Research upgraded shares of PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, December 26th. Barclays set a $27.00 target price on shares of PennyMac Financial Services and gave the stock a “buy” rating in a research note on Sunday, February 11th. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. Wedbush started coverage on shares of PennyMac Financial Services in a research note on Friday, February 16th. They issued an “outperform” rating and a $30.00 target price for the company. Finally, Wells Fargo started coverage on shares of PennyMac Financial Services in a research note on Wednesday, April 4th. They issued an “outperform” rating and a $28.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. PennyMac Financial Services currently has a consensus rating of “Buy” and a consensus price target of $27.75.
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About PennyMac Financial Services
PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.
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