Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $94.90 and last traded at $94.60, with a volume of 1260217 shares. The stock had previously closed at $92.67.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their target price on PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their price objective on PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Wednesday, June 19th. Wedbush restated an "outperform" rating and issued a $110.00 price target on shares of PennyMac Financial Services in a report on Thursday, April 25th. Finally, Barclays boosted their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.75.
Check Out Our Latest Report on PennyMac Financial Services
PennyMac Financial Services Stock Performance
The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a fifty day simple moving average of $91.09 and a two-hundred day simple moving average of $88.82. The stock has a market cap of $4.82 billion, a PE ratio of 32.18, a PEG ratio of 0.60 and a beta of 1.70.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.14. The business had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 EPS for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.85%. PennyMac Financial Services's dividend payout ratio is presently 27.78%.
Insider Transactions at PennyMac Financial Services
In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total transaction of $907,200.00. Following the completion of the sale, the chief executive officer now owns 250,604 shares in the company, valued at approximately $22,734,794.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO David Spector sold 10,000 shares of the company's stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $90.72, for a total value of $907,200.00. Following the sale, the chief executive officer now directly owns 250,604 shares of the company's stock, valued at $22,734,794.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph F. Mazzella sold 16,465 shares of the firm's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the transaction, the director now directly owns 116,546 shares of the company's stock, valued at $10,574,218.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,865 shares of company stock valued at $8,031,769. 16.60% of the stock is currently owned by insiders.
Institutional Trading of PennyMac Financial Services
Institutional investors and hedge funds have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. increased its holdings in shares of PennyMac Financial Services by 0.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 139,882 shares of the real estate investment trust's stock valued at $12,742,000 after acquiring an additional 1,190 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in PennyMac Financial Services during the first quarter valued at $1,785,000. CANADA LIFE ASSURANCE Co increased its stake in PennyMac Financial Services by 3.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 23,433 shares of the real estate investment trust's stock valued at $2,134,000 after purchasing an additional 689 shares during the last quarter. Cynosure Group LLC acquired a new stake in shares of PennyMac Financial Services during the first quarter worth $323,000. Finally, Edgestream Partners L.P. lifted its position in shares of PennyMac Financial Services by 349.5% in the 1st quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust's stock worth $2,166,000 after buying an additional 18,485 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.
PennyMac Financial Services Company Profile
(Get Free Report)
PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company 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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