PennyMac Financial Services (NYSE:PFSI) Sets New 52-Week High at $94.90 (2024)

Posted by Defense World Staff on Jun 30th, 2024

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) hit a new 52-week high on Friday . The stock traded as high as $94.90 and last traded at $94.60, with a volume of 1260217 shares. The stock had previously closed at $92.67.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective 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 raised 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 objective 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 raised their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Wedbush reissued an “outperform” rating and set a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.75.

Get Our Latest Research Report on PFSI

PennyMac Financial Services Price Performance

The company’s fifty 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 firm 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 posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS 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 business had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. Equities research analysts expect that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

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

Insider Activity at PennyMac Financial Services

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

Institutional Trading of PennyMac Financial Services

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

PennyMac Financial Services Company Profile

(Get Free Report)

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

Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.