Todays Report: Today, PennyMac Financial Services Inc. (PFSI) Given Consensus Rating of “Buy” by Analysts

Today, PennyMac Financial Services Inc. (PFSI) Given Consensus Rating of “Buy” by Analysts

Shares of PennyMac Financial Services Inc. (NYSE:PFSI) have received an average rating of “Buy” from the twelve research firms that are currently covering the company. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.56.

Several equities analysts recently issued reports on PFSI shares. Nomura started coverage on PennyMac Financial Services in a research report on Wednesday, October 26th. They set a “buy” rating and a $20.00 price target on the stock. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $20.00 price objective on shares of PennyMac Financial Services in a research report on Friday, September 9th. Citigroup Inc. lifted their price objective on PennyMac Financial Services from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research lowered PennyMac Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, September 16th. Finally, Keefe, Bruyette & Woods set a $18.00 price objective on PennyMac Financial Services and gave the stock a “buy” rating in a research report on Friday, August 5th.

Shares of PennyMac Financial Services (NYSE:PFSI) traded up 3.21% during midday trading on Friday, reaching $17.70. The company had a trading volume of 267,650 shares. The company has a 50-day moving average price of $16.68 and a 200 day moving average price of $15.14. PennyMac Financial Services has a one year low of $10.48 and a one year high of $18.13. The company has a market capitalization of $394.87 million, a P/E ratio of 6.96 and a beta of 0.57.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.16. PennyMac Financial Services had a return on equity of 4.88% and a net margin of 6.76%. The business had revenue of $291.40 million for the quarter, compared to analyst estimates of $259.79 million. During the same period last year, the company earned $0.58 EPS. PennyMac Financial Services’s revenue for the quarter was up 54.0% compared to the same quarter last year. Equities analysts anticipate that PennyMac Financial Services will post $2.71 earnings per share for the current fiscal year.

In other PennyMac Financial Services news, major shareholder Leon G. Cooperman sold 37,211 shares of PennyMac Financial Services stock in a transaction on Monday, November 7th. The stock was sold at an average price of $17.89, for a total transaction of $665,704.79. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at $1,789,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anne Mccallion sold 5,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $17.02, for a total value of $85,100.00. The disclosure for this sale can be found here. 45.97% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. boosted its position in shares of PennyMac Financial Services by 16.0% in the first quarter. Prudential Financial Inc. now owns 58,695 shares of the real estate investment trust’s stock worth $690,000 after buying an additional 8,100 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of PennyMac Financial Services by 17.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 27,490 shares of the real estate investment trust’s stock worth $323,000 after buying an additional 4,051 shares during the last quarter. Strs Ohio boosted its position in shares of PennyMac Financial Services by 15.6% in the second quarter. Strs Ohio now owns 45,100 shares of the real estate investment trust’s stock worth $563,000 after buying an additional 6,100 shares during the last quarter. Chicago Equity Partners LLC boosted its position in shares of PennyMac Financial Services by 47.3% in the second quarter. Chicago Equity Partners LLC now owns 52,900 shares of the real estate investment trust’s stock worth $661,000 after buying an additional 16,981 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of PennyMac Financial Services by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 80,262 shares of the real estate investment trust’s stock worth $1,003,000 after buying an additional 1,853 shares during the last quarter. Institutional investors and hedge funds own 94.07% of the company’s stock.

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