PennyMac Financial Services (NYSE:PFSI – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
Other equities analysts also recently issued reports about the stock. BTIG Research upped their price target on shares of PennyMac Financial Services from $65.00 to $85.00 in a research note on Tuesday, July 18th. Jefferies Financial Group initiated coverage on shares of PennyMac Financial Services in a research note on Monday, July 17th. They issued a “buy” rating and a $85.00 price target on the stock. TheStreet raised shares of PennyMac Financial Services from a “c+” rating to a “b-” rating in a research report on Wednesday, August 16th. Piper Sandler upped their price objective on shares of PennyMac Financial Services from $82.00 to $89.00 in a research report on Tuesday, June 13th. Finally, Wedbush upped their price objective on shares of PennyMac Financial Services from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.00.
Read Our Latest Stock Analysis on PennyMac Financial Services
PennyMac Financial Services Price Performance
PennyMac Financial Services (NYSE:PFSI – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.11 EPS for the quarter, meeting the consensus estimate of $1.11. PennyMac Financial Services had a net margin of 17.95% and a return on equity of 7.80%. The business had revenue of $336.55 million for the quarter, compared to the consensus estimate of $391.93 million. Equities analysts expect that PennyMac Financial Services will post 4.96 earnings per share for the current year.
Insider Activity at PennyMac Financial Services
In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction on Monday, August 7th. The shares were sold at an average price of $76.28, for a total transaction of $1,144,200.00. Following the transaction, the chief executive officer now directly owns 360,604 shares of the company’s stock, valued at approximately $27,506,873.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 7,600 shares of PennyMac Financial Services stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $72.37, for a total transaction of $550,012.00. Following the transaction, the chief financial officer now directly owns 280,697 shares of the company’s stock, valued at approximately $20,314,041.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction on Monday, August 7th. The stock was sold at an average price of $76.28, for a total value of $1,144,200.00. Following the sale, the chief executive officer now owns 360,604 shares in the company, valued at $27,506,873.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,600 shares of company stock valued at $3,892,462. 17.40% of the stock is owned by company insiders.
Institutional Investors Weigh In On PennyMac Financial Services
Hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in shares of PennyMac Financial Services by 59.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 542 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 203 shares during the period. US Bancorp DE raised its stake in PennyMac Financial Services by 28.1% in the 1st quarter. US Bancorp DE now owns 867 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 190 shares during the period. Westpac Banking Corp bought a new stake in PennyMac Financial Services in the 1st quarter valued at about $64,000. Captrust Financial Advisors raised its stake in PennyMac Financial Services by 75.9% in the 2nd quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust’s stock valued at $126,000 after acquiring an additional 1,247 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in PennyMac Financial Services by 19.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock valued at $156,000 after acquiring an additional 486 shares during the period. 59.12% of the stock is currently owned by institutional investors.
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: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.
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