PennyMac Financial Services (PFSI) Rating Lowered to Hold at ValuEngine

PennyMac Financial Services (NYSE:PFSI) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

A number of other research analysts also recently commented on PFSI. Zacks Investment Research upgraded PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating in a research report on Monday, May 7th. Wells Fargo & Co downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $21.00 target price for the company. in a research report on Thursday, May 3rd. Finally, Barclays set a $26.00 target price on PennyMac Financial Services and gave the company a “buy” rating in a research report on Sunday, May 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $25.75.

Shares of NYSE PFSI traded down $0.55 during midday trading on Friday, reaching $19.65. 116,300 shares of the stock traded hands, compared to its average volume of 189,194. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $489.07 million, a P/E ratio of 8.93, a P/E/G ratio of 0.98 and a beta of 0.57. PennyMac Financial Services has a one year low of $16.00 and a one year high of $25.20.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, May 3rd. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). The firm had revenue of $238.20 million for the quarter, compared to the consensus estimate of $234.60 million. PennyMac Financial Services had a net margin of 10.77% and a return on equity of 3.67%. equities analysts predict that PennyMac Financial Services will post 2.77 EPS for the current fiscal year.

In related news, insider Anne Mccallion sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 26th. The stock was sold at an average price of $20.65, for a total value of $103,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David M. Walker sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $20.18, for a total value of $201,800.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 399,478 shares of company stock valued at $8,796,300. 45.64% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP bought a new stake in PennyMac Financial Services in the fourth quarter worth $1,200,000. Schwab Charles Investment Management Inc. lifted its position in PennyMac Financial Services by 18.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 35,175 shares of the real estate investment trust’s stock worth $787,000 after buying an additional 5,375 shares during the last quarter. Martingale Asset Management L P bought a new stake in PennyMac Financial Services in the fourth quarter worth $2,509,000. Wells Fargo & Company MN lifted its position in shares of PennyMac Financial Services by 59.9% during the fourth quarter. Wells Fargo & Company MN now owns 124,748 shares of the real estate investment trust’s stock worth $2,787,000 after purchasing an additional 46,723 shares during the last quarter. Finally, Aperio Group LLC lifted its position in shares of PennyMac Financial Services by 45.9% during the fourth quarter. Aperio Group LLC now owns 31,602 shares of the real estate investment trust’s stock worth $706,000 after purchasing an additional 9,940 shares during the last quarter. Institutional investors own 91.73% of the company’s stock.

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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Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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