PennyMac Financial Services, Inc. (NYSE: PFSI – Get Rating) hit a new 52-week low on Monday. The stock traded as low as $44.12 and last traded at $44.31, with volume at 20,900 shares. The stock had previously closed at $46.36.
Several research firms have weighed in on PFSI. StockNews.com upgraded PennyMac Financial Services shares from a “sell” rating to a “hold” rating in a Thursday, May 19 research report. Credit Suisse Group lowered its price target on PennyMac Financial Services shares to $66.00 and set a “neutral” rating on the stock in a Thursday, May 19 research report. BTIG Research began covering PennyMac Financial Services shares in a research report on Wednesday, April 20. They set a “buy” rating and a price target of $60.00 on the stock. Barclays cut its price target on PennyMac Financial Services shares from $103.00 to $90.00 in a Monday May 9 research note. Finally, Piper Sandler cut her price target on PennyMac Financial Services shares from $117.00 to $98.00 and set an “overweight” rating for the company in a Tuesday, April 5 research note. Two investment analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $78.17.
The company’s 50-day simple moving average is $48.36 and its 200-day simple moving average is $57.58. The company has a market capitalization of $2.40 billion, a price-earnings ratio of 3.72 and a beta of 1.21. The company has a debt ratio of 1.63, a quick ratio of 0.31 and a current ratio of 0.31.
PennyMac Financial Services (NYSE:PFSI – Get Rating) last released quarterly earnings data on Thursday, May 5. The real estate investment trust reported earnings per share (EPS) of $2.94 for the quarter, beating the consensus estimate of $2.89 by $0.05. PennyMac Financial Services posted a net margin of 27.78% and a return on equity of 25.12%. The company posted revenue of $657.50 million in the quarter, compared to analyst estimates of $622.14 million. In the same quarter of the previous year, the company achieved EPS of $5.15. PennyMac Financial Services’ quarterly revenue decreased 30.4% from the same quarter last year. Research analysts expect PennyMac Financial Services, Inc. to post earnings per share of 8.68 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27. Investors of record on Tuesday, May 17 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a dividend yield of 1.85%. The ex-dividend date was Monday, May 16. PennyMac Financial Services’ payout ratio is currently 6.42%.
In other PennyMac Financial Services news, insider Doug Jones sold 20,014 shares of the company in a trade on Friday, April 8. The shares were sold at an average price of $46.50, for a total transaction of $930,651.00. Following the completion of the transaction, the insider now owns 47,349 shares of the company, valued at approximately $2,201,728.50. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, director Joseph F. Mazzella sold 13,000 shares of the company in a trade on Thursday, May 26. The stock was sold at an average price of $50.12, for a total transaction of $651,560.00. As a result of the transaction, the administrator now directly owns 351,331 shares of the company, valued at approximately $17,608,709.72. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 55,528 shares of the company valued at $2,791,878. 18.00% of the shares are held by insiders of the company.
Institutional investors have recently increased or reduced their stake in the company. Ensign Peak Advisors Inc acquired a new position in PennyMac Financial Services during Q4 worth $120,000. Janus Henderson Group PLC increased its position in PennyMac Financial Services by 104.2% in Q3. Janus Henderson Group PLC now owns 12,896 shares of the real estate investment trust worth $788,000 after acquiring an additional 6,582 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in PennyMac Financial Services by 6.1% during the third quarter. UBS Asset Management Americas Inc. now owns 69,870 shares of the real estate investment trust worth $4,271,000 after acquiring an additional 4,030 shares in the last quarter. Gator Capital Management LLC purchased a new stock position in PennyMac Financial Services during Q4 for a value of approximately $5,724,000. Finally, Envestnet Asset Management Inc. increased its holding in shares of PennyMac Financial Services by 35.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,616 shares of the real estate investment trust worth $1,159,000 after purchasing an additional 4,356 shares during the period. 62.61% of the shares are held by hedge funds and other institutional investors.
About PennyMac Financial Services (NYSE: PFSI)
PennyMac Financial Services, Inc, through its subsidiaries, is engaged in the mortgage banking and investment management business in the United States. It operates through three segments: production, maintenance and investment management. The Production segment is involved in the origination, acquisition and sale of loans.
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