PennyMac Financial Services, Inc. (NYSE:PFSI) Stock Has Average Target Price of $92.14 According to Analysts

PennyMac Financial Services, Inc. (NYSE:PFSI) has received a consensus recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $88.71.

A number of brokerages have recently commented on PFSI. Barclays reduced their price target on shares of PennyMac Financial Services from $71.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, November 2nd. Weiss Ratings cut shares of PennyMac Financial Services from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 29th. BTIG Research lowered their price objective on shares of PennyMac Financial Services from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Wall Street Zen cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Piper Sandler dropped their target price on shares of PennyMac Financial Services from $86.00 to $71.00 and set a “neutral” rating on the stock in a report on Friday, October 9th.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. MFN Partners Management LP purchased a new position in PennyMac Financial Services in the 2nd quarter worth approximately $394,719,083. BlackRock Inc. bought a new position in PennyMac Financial Services in the 2nd quarter worth approximately $202,735,000. Donald Smith & CO. Inc. bought a new position in PennyMac Financial Services in the 2nd quarter worth approximately $163,940,000. Bank of New York Mellon Corp bought a new position in PennyMac Financial Services in the 2nd quarter worth approximately $26,424,000. Finally, Bank of America Corp DE purchased a new stake in PennyMac Financial Services during the 2nd quarter valued at approximately $24,930,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

PFSI opened at $65.38 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.38 and a debt-to-equity ratio of 3.12. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 14.69 and a beta of 1.48. The stock has a fifty day simple moving average of $65.17 and a two-hundred day simple moving average of $82.90. PennyMac Financial Services has a 12-month low of $57.52 and a 12-month high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, October 29th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.22). The business had revenue of $502.00 million for the quarter, compared to analysts’ expectations of $531.77 million. PennyMac Financial Services had a net margin of 11.72% and a return on equity of 8.18%. PennyMac Financial Services’s revenue for the quarter was down 25.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.37 earnings per share. Research analysts predict that PennyMac Financial Services will post 5.78 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, November 16th. PennyMac Financial Services’s dividend payout ratio is currently 26.97%.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a specialty financial services company focused on the U.S. residential mortgage market. Through its subsidiaries, the company originates, acquires, and services residential mortgage loans, with an emphasis on conventional, government-backed, and other mortgage products.

PennyMac’s primary businesses include mortgage production, loan servicing, and investment management. Its production platform acquires and originates loans through correspondent relationships with banks and other lenders, as well as through direct-to-consumer and broker channels.