PennyMac Financial Services (NYSE:PFSI) Rating Lowered to Strong Sell at ValuEngine

PennyMac Financial Services (NYSE:PFSI) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Friday, ValuEngine reports.

Several other equities analysts also recently weighed in on PFSI. Wells Fargo & Co raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research report on Thursday, September 5th. Credit Suisse Group lifted their price objective on PennyMac Financial Services from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, August 21st. Piper Jaffray Companies lifted their price objective on PennyMac Financial Services from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Zacks Investment Research raised PennyMac Financial Services from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, July 17th. Finally, Barclays reaffirmed a “buy” rating and issued a $37.00 price objective on shares of PennyMac Financial Services in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. PennyMac Financial Services has a consensus rating of “Buy” and a consensus price target of $33.40.

PennyMac Financial Services stock traded down $0.24 during mid-day trading on Friday, hitting $30.74. 668,967 shares of the company were exchanged, compared to its average volume of 313,720. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.18 and a quick ratio of 0.19. The business’s 50 day simple moving average is $31.30 and its two-hundred day simple moving average is $26.17. The company has a market capitalization of $2.40 billion, a P/E ratio of 11.87, a PEG ratio of 0.78 and a beta of 0.36. PennyMac Financial Services has a 12-month low of $19.28 and a 12-month high of $33.46.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.26. The company had revenue of $436.35 million during the quarter, compared to the consensus estimate of $368.20 million. PennyMac Financial Services had a return on equity of 15.84% and a net margin of 22.54%. Equities research analysts predict that PennyMac Financial Services will post 4.16 earnings per share for the current year.

In related news, Director Anne Mccallion sold 10,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $31.37, for a total value of $313,700.00. Also, Director Matthew Botein sold 60,000 shares of PennyMac Financial Services stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.74, for a total value of $1,844,400.00. In the last ninety days, insiders sold 235,000 shares of company stock valued at $7,164,050. Company insiders own 22.17% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in PennyMac Financial Services by 8.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 6,080,275 shares of the real estate investment trust’s stock valued at $134,860,000 after acquiring an additional 472,076 shares during the last quarter. Par Capital Management Inc. boosted its holdings in PennyMac Financial Services by 25.6% in the second quarter. Par Capital Management Inc. now owns 950,000 shares of the real estate investment trust’s stock valued at $21,071,000 after acquiring an additional 193,700 shares during the last quarter. Bayview Asset Management LLC boosted its holdings in PennyMac Financial Services by 26.1% in the second quarter. Bayview Asset Management LLC now owns 459,920 shares of the real estate investment trust’s stock valued at $10,201,000 after acquiring an additional 95,246 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in PennyMac Financial Services by 21.1% in the second quarter. JPMorgan Chase & Co. now owns 408,353 shares of the real estate investment trust’s stock valued at $9,139,000 after acquiring an additional 71,075 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in PennyMac Financial Services by 6.5% in the second quarter. Northern Trust Corp now owns 359,441 shares of the real estate investment trust’s stock valued at $7,973,000 after acquiring an additional 21,954 shares during the last quarter. Hedge funds and other institutional investors own 30.44% 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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