PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $94.80 and last traded at $94.31, with a volume of 14415 shares changing hands. The stock had previously closed at $94.03.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on PFSI. Wedbush reaffirmed an "outperform" rating and issued a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft dropped their target price on PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods decreased their price objective on PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, April 26th. Barclays lifted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an "overweight" rating in a research note on Tuesday, April 9th. Finally, StockNews.com lowered shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $97.75.
Read Our Latest Analysis on PFSI
PennyMac Financial Services Price Performance
The stock has a market capitalization of $4.78 billion, a PE ratio of 32.60, a PEG ratio of 0.61 and a beta of 1.68. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. The company has a 50-day moving average of $89.56 and a 200 day moving average of $86.22.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The business had revenue of $305.66 million during the quarter, compared to analysts' expectations of $422.87 million. Sell-side analysts predict that PennyMac Financial Services, Inc. will post 10.55 EPS for the current year.
PennyMac Financial Services Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services's dividend payout ratio (DPR) is 27.78%.
Insider Activity
In related news, insider James Follette sold 2,617 shares of the firm's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the completion of the transaction, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the transaction, the insider now owns 7,257 shares of the company's stock, valued at approximately $625,843.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Spector sold 26,451 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $86.05, for a total value of $2,276,108.55. Following the transaction, the chief executive officer now directly owns 647,938 shares of the company's stock, valued at $55,755,064.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,267 shares of company stock valued at $8,823,777. 16.60% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new position in shares of PennyMac Financial Services during the fourth quarter worth $25,000. Hexagon Capital Partners LLC boosted its position in shares of PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of PennyMac Financial Services in the 4th quarter valued at about $36,000. TFO Wealth Partners LLC raised its position in shares of PennyMac Financial Services by 16,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust's stock worth $101,000 after acquiring an additional 1,141 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of PennyMac Financial Services during the 1st quarter worth about $202,000. Institutional investors and hedge funds own 57.87% of the company's stock.
PennyMac Financial Services Company Profile
(Get Free Report)
PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.
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