PennyMac Financial Services (PFSI) PT Set at $25.00 by Barclays
PennyMac Financial Services (NYSE:PFSI) has been assigned a $25.00 target price by investment analysts at Barclays in a research note issued on Tuesday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Barclays’ target price points to a potential upside of 14.16% from the stock’s current price.
PFSI has been the topic of a number of other reports. Zacks Investment Research lowered PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 25th. ValuEngine raised PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 15th. BidaskClub raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of PennyMac Financial Services in a research report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. PennyMac Financial Services has an average rating of “Buy” and an average target price of $21.50.
Shares of PennyMac Financial Services (NYSE PFSI) opened at $21.90 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $512.35, a price-to-earnings ratio of 8.15, a PEG ratio of 1.87 and a beta of 0.68. PennyMac Financial Services has a twelve month low of $15.65 and a twelve month high of $22.20.
PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.71 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.71. The business had revenue of $250.64 million during the quarter, compared to analyst estimates of $238.59 million. PennyMac Financial Services had a return on equity of 4.11% and a net margin of 6.47%. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. analysts forecast that PennyMac Financial Services will post 2.29 EPS for the current year.
In related news, insider Doug Jones sold 7,500 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $21.57, for a total transaction of $161,775.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Stanley Perotti sold 5,442 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $19.42, for a total value of $105,683.64. The disclosure for this sale can be found here. Insiders have sold 162,510 shares of company stock worth $3,049,271 over the last three months. 45.64% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of PFSI. Citigroup Inc. raised its position in PennyMac Financial Services by 1,652.1% during the second quarter. Citigroup Inc. now owns 6,150 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 5,799 shares during the period. Victory Capital Management Inc. raised its position in PennyMac Financial Services by 17.6% during the second quarter. Victory Capital Management Inc. now owns 6,964 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 1,042 shares during the period. Voya Investment Management LLC acquired a new position in PennyMac Financial Services during the second quarter valued at $174,000. The Manufacturers Life Insurance Company grew its stake in PennyMac Financial Services by 11.5% in the second quarter. The Manufacturers Life Insurance Company now owns 12,732 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 1,312 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in PennyMac Financial Services by 23.6% in the second quarter. Cubist Systematic Strategies LLC now owns 13,025 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 2,489 shares in the last quarter. 90.83% of the stock is currently owned by hedge funds and other institutional investors.
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About PennyMac Financial Services
PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.
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