PennyMac Financial Services (NYSE: PFSI) enhanced at Zacks Investment Research

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PennyMac Financial Services (NYSE: PFSI) was upgraded by Zacks Investment Research from a “sell” rating to a “conservation” rating in a report released Wednesday, Zacks.com reports.

According to Zacks, “PennyMac Financial Services, Inc. provides financial services primarily in the United States. The Company operates in two segments: … Mortgage banking and investment management banking industry offers mortgage matching and business loans to personal and corporate investment lending service The management segment offers investment advice and investment management services. PennyMac Financial Services, Inc. is headquartered in Moorpark, California.

Separately, Barclays raised its price target on PennyMac Financial Services from $ 103.00 to $ 113.00 in a research note on Monday. Three equity research analysts rated the stock with a conservation rating and five issued a buy rating for the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $ 85.75.

PFSI shares opened at $ 67.74 on Wednesday. The company has a market cap of $ 4.00 billion, a P / E ratio of 3.79 and a beta of 1.21. The company has a current ratio of 0.26, a quick ratio of 0.26, and a debt ratio of 2.64. The company’s fifty-day simple moving average is $ 67.16 and its 200-day simple moving average is $ 64.91. PennyMac Financial Services has a one-year minimum of $ 55.11 and a one-year maximum of $ 71.52.

PennyMac Financial Services (NYSE: PFSI) last released its results on Thursday, November 4. The REIT reported earnings per share (EPS) of $ 3.80 for the quarter, beating the Zacks’ consensus estimate of $ 3.31 by $ 0.49. PennyMac Financial Services had a net margin of 36.50% and a return on equity of 36.99%. The company posted revenue of $ 786.61 million for the quarter, against analysts’ expectations of $ 832.20 million. During the same period of the previous year, the company earned $ 7.03 per share. PennyMac Financial Services quarterly revenues were down 29.8% from the same quarter last year. Equity research analysts predict that PennyMac Financial Services will post 20.36 EPS for the current fiscal year.

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In other news from PennyMac Financial Services, CEO David Spector sold 15,000 shares of the company in a trade on Wednesday, October 20. The shares were sold for an average price of $ 67.51, for a total value of $ 1,012,650.00. The transaction was disclosed in a document filed with the SEC, accessible through this link. In addition, director Farhad Nanji bought 9,002 shares of the company in a trade on Friday, November 26. The stock was purchased at an average cost of $ 64.88 per share, for a total value of $ 584,049.76. Disclosure of this purchase can be found here. In the past 90 days, insiders have bought 412,554 shares of the company valued at $ 26,628,876 and sold 45,000 shares valued at $ 2,985,150. 12.90% of the shares are held by insiders of the company.

Institutional investors and hedge funds have recently changed their holdings of equities. The Canada Pension Plan Investment Board purchased a new equity stake in PennyMac Financial Services during the second quarter valued at approximately $ 48,000. Wolverine Asset Management LLC purchased a new position in PennyMac Financial Services shares in the third quarter valued at approximately $ 72,000. FORA Capital LLC purchased a new stake in PennyMac Financial Services during the second quarter for a value of approximately $ 188,000. Macquarie Group Ltd. increased its stake in PennyMac Financial Services by 34.8% during the 2nd quarter. Macquarie Group Ltd. now owns 3,120 real estate investment trust shares worth $ 193,000 after acquiring an additional 805 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in PennyMac Financial Services during the 3rd quarter for a value of approximately $ 220,000. 57.91% of the shares are held by institutional investors.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc. operates as a holding company. The company is engaged in the production and management of residential mortgage loans in the United States. It operates through the following segments: production, maintenance and investment management. The Production segment includes the activities of originating, acquiring and selling mortgage loans.

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Analyst Recommendations for PennyMac Financial Services (NYSE: PFSI)

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