PennyMac Financial Services (NYSE:PFSI) posted its earnings results on Thursday. The real estate investment trust reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01, Fidelity Earnings reports. PennyMac Financial Services had a return on equity of 3.91% and a net margin of 11.03%. The firm had revenue of $250.93 million for the quarter, compared to analysts’ expectations of $232.08 million.
NYSE PFSI traded down $0.76 on Friday, reaching $19.92. 379,689 shares of the stock traded hands, compared to its average volume of 163,002. 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 firm has a market cap of $500.01 million, a P/E ratio of 9.05, a PEG ratio of 0.78 and a beta of 0.68. PennyMac Financial Services has a 12 month low of $18.20 and a 12 month high of $25.20.
In other news, Director Matthew Botein sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $21.17, for a total transaction of $211,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anne Mccallion sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $19.44, for a total value of $97,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,000 shares of company stock valued at $1,040,850. 45.64% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in PennyMac Financial Services stock. Bank of New York Mellon Corp lifted its stake in shares of PennyMac Financial Services Inc (NYSE:PFSI) by 9.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,858 shares of the real estate investment trust’s stock after acquiring an additional 10,378 shares during the quarter. Bank of New York Mellon Corp owned 0.50% of PennyMac Financial Services worth $2,375,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 90.35% of the company’s stock.
Several analysts recently commented on the company. ValuEngine upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Barclays lowered their target price on PennyMac Financial Services from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 24th. Finally, Compass Point restated a “hold” rating and issued a $23.00 target price on shares of PennyMac Financial Services in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $24.60.
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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