According to Zacks, “PennyMac Financial Services, Inc. provides financial services primarily in the United States. The Company conducts its business in two segments: mortgage banking and investment management. Mortgage banking segment offers correspondent and retail lending businesses and loan servicing business. Investment management segment offers investment advisory and investment management services. PennyMac Financial Services, Inc. is headquartered in Moorpark, California. “
PFSI has been the topic of several other reports. Piper Jaffray Cos. restated an overweight rating and set a $20.00 target price on shares of PennyMac Financial Services in a research report on Friday, September 9th. Citigroup Inc. boosted their price objective on shares of PennyMac Financial Services from $16.00 to $20.00 and gave the stock a buy rating in a research report on Friday, September 9th. Keefe, Bruyette & Woods set a $18.00 price objective on shares of PennyMac Financial Services and gave the stock a buy rating in a research report on Friday, August 5th. JPMorgan Chase & Co. boosted their price objective on shares of PennyMac Financial Services from $14.00 to $16.50 and gave the stock a neutral rating in a research report on Friday, August 5th. Finally, Bank of America Corp. upgraded shares of PennyMac Financial Services from a neutral rating to a buy rating in a research report on Tuesday, July 12th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. PennyMac Financial Services currently has an average rating of Buy and an average price target of $17.94.
PennyMac Financial Services (NYSE:PFSI) opened at 17.89 on Friday. PennyMac Financial Services has a 52 week low of $10.48 and a 52 week high of $18.13. The firm’s 50-day moving average is $16.19 and its 200 day moving average is $13.53. The stock has a market cap of $397.03 million, a price-to-earnings ratio of 8.71 and a beta of 0.59.
PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.65 EPS for the quarter, topping the consensus estimate of $0.58 by $0.07. The company had revenue of $207.81 million for the quarter, compared to analyst estimates of $196.53 million. PennyMac Financial Services had a net margin of 6.20% and a return on equity of 4.30%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. On average, equities research analysts expect that PennyMac Financial Services will post $2.39 EPS for the current year.
In related news, insider David M. Walker sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $16.69, for a total transaction of $166,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anne Mccallion sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $17.64, for a total transaction of $88,200.00. The disclosure for this sale can be found here. Corporate insiders own 45.97% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY bought a new position in PennyMac Financial Services during the second quarter worth $139,000. Societe Generale bought a new position in PennyMac Financial Services during the second quarter worth $161,000. SG Americas Securities LLC bought a new position in PennyMac Financial Services during the second quarter worth $161,000. Teachers Advisors Inc. boosted its position in PennyMac Financial Services by 7.7% in the second quarter. Teachers Advisors Inc. now owns 20,232 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 1,447 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in PennyMac Financial Services by 17.4% in the second quarter. Parametric Portfolio Associates LLC now owns 20,649 shares of the real estate investment trust’s stock worth $258,000 after buying an additional 3,053 shares in the last quarter. 92.45% of the stock is owned by hedge funds and other institutional investors.
PennyMac Financial Services Company Profile
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. It operates through three segments: loan production, loan servicing and investment management.
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