PennyMac Financial Services (PFSI) Stock Rating Lowered by Keefe, Bruyette & Woods

PennyMac Financial Services (NYSE:PFSI) was downgraded by investment analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued on Monday, The Fly reports.

Several other brokerages have also recently weighed in on PFSI. Barclays set a $25.00 price target on shares of PennyMac Financial Services and gave the company a “buy” rating in a research report on Tuesday, December 12th. ValuEngine raised shares of PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research raised shares of PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, December 26th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of PennyMac Financial Services in a research report on Tuesday, September 19th. Finally, BidaskClub raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $23.75.

Shares of PennyMac Financial Services (NYSE PFSI) opened at $23.80 on Monday. The firm has a market cap of $554.25, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.68. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.66. PennyMac Financial Services has a 12-month low of $15.65 and a 12-month high of $24.00.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results 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 analysts’ expectations of $238.59 million. PennyMac Financial Services had a net margin of 6.47% and a return on equity of 4.11%. The company’s revenue was down 14.0% compared to the same quarter last year. equities research analysts expect that PennyMac Financial Services will post 2.29 earnings per share for the current fiscal year.

In related news, Director Matthew Botein sold 10,000 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $23.79, for a total value of $237,900.00. Following the completion of the transaction, the director now directly owns 34,741 shares in the company, valued at approximately $826,488.39. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David M. Walker sold 5,000 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $18.13, for a total transaction of $90,650.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,060 shares of company stock valued at $4,149,517. Corporate insiders own 45.64% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of PennyMac Financial Services by 14.5% in the 2nd quarter. Wells Fargo & Company MN now owns 100,657 shares of the real estate investment trust’s stock worth $1,681,000 after acquiring an additional 12,778 shares in the last quarter. Aperio Group LLC increased its stake in shares of PennyMac Financial Services by 44.1% in the 3rd quarter. Aperio Group LLC now owns 21,662 shares of the real estate investment trust’s stock worth $386,000 after acquiring an additional 6,627 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of PennyMac Financial Services by 275.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 50,305 shares of the real estate investment trust’s stock worth $840,000 after acquiring an additional 36,915 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of PennyMac Financial Services by 63.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 29,800 shares of the real estate investment trust’s stock worth $498,000 after acquiring an additional 11,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of PennyMac Financial Services by 31.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 531,824 shares of the real estate investment trust’s stock worth $8,882,000 after acquiring an additional 127,022 shares in the last quarter. Institutional investors own 90.83% of the company’s stock.

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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.

The Fly

Analyst Recommendations for PennyMac Financial Services (NYSE:PFSI)

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