The price of PennyMac Financial Services Inc. (NYSE:PFSI) shares last traded on Wall Street fell -0.19% to $57.71.
Based on available information, 8 analysts follow PennyMac Financial Services Inc. (NYSE:PFSI). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $83.00 and a low of $65.00, we find $70.00. Given the previous closing price of $57.82, this indicates a potential upside of 21.07 percent. PFSI stock price is now -8.29% away from the 50-day moving average and 6.35% away from the 200-day moving average. The market capitalization of the company currently stands at $2.97B.
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Among analysts, 3 rate the stock a hold while 5 rate it a buy. Brokers who have rated the stock have averaged $72.57 as their price target over the next twelve months.
On January 06, 2023, Barclays Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock increasing its target price from $55 to quote $58, while ‘Wells Fargo’ rates the stock as ‘Overweight’.
In other news, SPECTOR DAVID, Chairman & CEO sold 15,000 shares of the company’s stock on Mar 07. The stock was sold for $925,359 at an average price of $61.69. Upon completion of the transaction, the Chairman & CEO now directly owns 435,604 shares in the company, valued at $25.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 02, Chief Risk Officer White Donald J. sold 1,630 shares of the business’s stock. A total of $98,805 was realized by selling the stock at an average price of $60.62. This leaves the insider owning 9,469 shares of the company worth $0.55 million. Insiders disposed of 546,830 shares of company stock worth roughly $31.56 million over the past 1 year. A total of 2.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PFSI stock. A new stake in PennyMac Financial Services Inc. shares was purchased by WALLEYE CAPITAL LLC during the first quarter worth $8,685,000. ALYESKA INVESTMENT GROUP, L.P. invested $8,593,000 in shares of PFSI during the first quarter. In the first quarter, PALOGIC VALUE MANAGEMENT, L.P. acquired a new stake in PennyMac Financial Services Inc. valued at approximately $4,905,000. OCCUDO QUANTITATIVE STRATEGIES LP acquired a new stake in PFSI for approximately $2,713,000. VIDENT INVESTMENT ADVISORY, LLC purchased a new stake in PFSI valued at around $2,537,000 in the second quarter. In total, there are 262 active investors with 59.90% ownership of the company’s stock.
A candlestick chart of PennyMac Financial Services Inc. (NYSE: PFSI) showed a price of $56.33 on Monday morning. During the past 12 months, PennyMac Financial Services Inc. has had a low of $38.53 and a high of $73.79. The fifty day moving average price for PFSI is $62.92 and a two-hundred day moving average price translates $54.26 for the stock.
The latest earnings results from PennyMac Financial Services Inc. (NYSE: PFSI) was released for Dec, 2022. According to the Mortgage Finance Company, earnings per share came in at $0.71, missing analysts’ expectations of $1.06 by -0.35. This compares to $2.98 EPS in the same period last year. The net profit margin was 20.50% and return on equity was 13.70% for PFSI. The company reported revenue of $340.45 million for the quarter, compared to $693.81 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -50.93 percent. For the current quarter, analysts expect PFSI to generate $348.61M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/24/2023. Investors who held shares on 02/14/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 1.39% percent yield. There was an ex-dividend date of 02/13/2023 for this dividend. In terms of dividend payout ratio, PFSI is presently at 9.10%.
PennyMac Financial Services Inc.(PFSI) Company Profile
PennyMac Financial Services, Inc., through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans. It sources first-lien residential conventional and government-insured or guaranteed mortgage loans. The Servicing segment engages in the servicing of newly originated loans, and execution and management of early buyout transactions and servicing of loans. It performs loan administration, collection, and default management activities, including the collection and remittance of loan payments, response to customer inquiries, accounting for principal and interest, holding custodial funds for the payment of property taxes and insurance premiums, counseling delinquent borrowers, and supervising foreclosures and property dispositions, as well as administers loss mitigation activities, such as modification and forbearance programs. The Investment Management segment is involved in sourcing, performing diligence, bidding, and closing investment asset acquisitions; managing correspondent production activities for PennyMac Mortgage Investment Trust; and managing acquired assets. PennyMac Financial Services, Inc. was founded in 2008 and is headquartered in Westlake Village, California.
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