PennyMac Financial Services (NYSE:PFSI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to 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 brokerages have also recently issued reports on PFSI. ValuEngine upgraded shares of PennyMac Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Compass Point reissued a “hold” rating and issued a $23.00 price objective on shares of PennyMac Financial Services in a research report on Tuesday, August 7th. Finally, Barclays set a $24.00 price objective on shares of PennyMac Financial Services and gave the stock a “buy” rating in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. PennyMac Financial Services presently has a consensus rating of “Hold” and an average price target of $24.80.
Shares of NYSE PFSI opened at $20.05 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market cap of $524.61 million, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.80 and a beta of 0.55. PennyMac Financial Services has a 12-month low of $17.85 and a 12-month high of $25.20.
PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. The firm had revenue of $244.30 million for the quarter, compared to analysts’ expectations of $241.49 million. PennyMac Financial Services had a net margin of 11.03% and a return on equity of 3.91%. As a group, sell-side analysts expect that PennyMac Financial Services will post 2.63 EPS for the current year.
In other PennyMac Financial Services news, insider Anne Mccallion sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $21.22, for a total value of $106,100.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Matthew Botein sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $19.11, for a total transaction of $191,100.00. The disclosure for this sale can be found here. Insiders sold a total of 70,000 shares of company stock worth $1,427,450 over the last three months. 42.06% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Globeflex Capital L P grew its stake in PennyMac Financial Services by 7.2% in the 2nd quarter. Globeflex Capital L P now owns 62,661 shares of the real estate investment trust’s stock worth $1,231,000 after acquiring an additional 4,182 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of PennyMac Financial Services by 25.8% during the second quarter. First Trust Advisors LP now owns 25,310 shares of the real estate investment trust’s stock valued at $497,000 after purchasing an additional 5,195 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of PennyMac Financial Services by 75.5% during the second quarter. MetLife Investment Advisors LLC now owns 12,814 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 5,514 shares in the last quarter. Adams Diversified Equity Fund Inc. bought a new position in shares of PennyMac Financial Services during the second quarter valued at approximately $625,000. Finally, Long Pond Capital LP bought a new position in shares of PennyMac Financial Services during the second quarter valued at approximately $12,281,000. Institutional investors and hedge funds own 90.30% of the company’s stock.
PennyMac Financial Services Company Profile
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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