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PennyMac Financial Services (NYSE:PFSI) hits new 52-week high at .90


PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) shares reached a new 52-week high on Friday. The stock traded as high as $94.90 and most recently at $94.60 on volume of 1,260,217 shares. The stock had previously closed at $92.67.

Changes in analyst ratings

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. StockNews.com upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Barclays increased their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and assigned an “overweight” rating to the stock in a report on Tuesday, April 9. Finally, Wedbush reiterated an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a report on Thursday, April 25. Two investment analysts have rated the stock with a “hold” rating and six have given the company’s stock a buy rating. According to MarketBeat.com, the company currently has a consensus rating of “moderate buy” and an average price target of $97.75.

Get our latest research report on PFSI

Price development at PennyMac Financial Services

The company’s 50 day moving average price is $91.22 and its 200 day moving average price is $88.96. 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 company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 32.85, a price-to-earnings-growth ratio of 0.61 and a beta of 1.70.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last released its quarterly earnings results on Wednesday, April 24. The real estate investment trust reported earnings per share of $2.48 for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The company had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. Equities analysts expect PennyMac Financial Services, Inc. to post earnings per share of $10.55 for the current year.

PennyMac Financial Services announces dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Tuesday, May 14th were paid a dividend of $0.20. The ex-dividend date of this dividend was Monday, May 13th. This represents an annualized dividend of $0.80 and a yield of 0.85%. PennyMac Financial Services’ dividend payout ratio is currently 27.78%.

Insider activities at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services in a transaction on Tuesday, April 9. The shares were sold at an average price of $90.72, for a total value of $907,200.00. Following the sale, the CEO now directly owns 250,604 shares of the company’s stock, valued at approximately $22,734,794.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC’s website. In related news, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services in a transaction on Wednesday, May 15. The shares were sold at an average price of $92.00, for a total value of $1,048,800.00. Following the sale, the CFO now directly owns 246,497 shares of the company’s stock, valued at approximately $22,677,724. The sale was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services in a transaction dated Tuesday, April 9. The shares were sold at an average price of $90.72, for a total transaction of $907,200.00. Following the completion of the sale, the CEO now owns 250,604 shares of the company’s stock, valued at $22,734,794.88. The disclosure regarding this sale can be found here. Insiders have sold a total of 87,865 shares of the company’s stock, valued at $8,031,769 in the last ninety days. 16.60% of the shares are owned by insiders.

Institutional Trading by PennyMac Financial Services

Hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of PennyMac Financial Services in the 4th quarter valued at about $31,258,000. Boston Partners acquired a new stake in shares of PennyMac Financial Services in the 4th quarter valued at about $28,191,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at about $17,242,000. Dimensional Fund Advisors LP increased its position in shares of PennyMac Financial Services by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock valued at $237,851,000 after purchasing an additional 70,178 shares in the last quarter. Finally, Assenagon Asset Management SA acquired a new stake in shares of PennyMac Financial Services in the 1st quarter valued at approximately USD 6,182,000. 57.87% of the shares are currently owned by institutional investors.

PennyMac Financial Services Company Profile

(Get free report)

PennyMac Financial Services, Inc., through its subsidiaries, is engaged in the mortgage banking and investment management business in the United States. The company operates in three segments: Production, Servicing and Investment Management. The Production segment is involved in the origination, acquisition and sale of loans.

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