PennyMac Financial Services Inc. (PFSI) Price Target Raised to $20.00

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PennyMac Financial Services Inc. (NYSE:PFSI) had its target price increased by investment analysts at Citigroup Inc. from $16.00 to $20.00 in a research report issued on Friday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Citigroup Inc.’s price objective would indicate a potential upside of 20.85% from the stock’s previous close.
Several other analysts have also recently commented on PFSI. Bank of America Corp. raised shares of PennyMac Financial Services from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 12th. Zacks Investment Research raised shares of PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, July 15th. Keefe, Bruyette & Woods set a $18.00 price target on shares of PennyMac Financial Services and gave the company a “buy” rating in a research note on Friday, August 5th. JPMorgan Chase & Co. increased their price target on shares of PennyMac Financial Services from $14.00 to $16.50 and gave the company a “neutral” rating in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $20.00 price target on shares of PennyMac Financial Services in a research note on Friday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. PennyMac Financial Services presently has a consensus rating of “Buy” and an average price target of $17.61.
PennyMac Financial Services (NYSE:PFSI) traded up 0.91% during trading on Friday, reaching $16.70. 9,870 shares of the company’s stock traded hands. The company has a market cap of $370.62 million, a P/E ratio of 8.13 and a beta of 0.59. The firm’s 50 day moving average is $15.20 and its 200 day moving average is $13.22. PennyMac Financial Services has a 12 month low of $10.48 and a 12 month high of $17.30.

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PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The firm had revenue of $207.81 million for the quarter, compared to the consensus estimate of $196.53 million. PennyMac Financial Services’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 earnings per share. Analysts anticipate that PennyMac Financial Services will post $2.44 EPS for the current year.
In related news, CFO Anne Mccallion sold 5,000 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $16.24, for a total transaction of $81,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David M. Walker sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $16.69, for a total transaction of $166,900.00. The disclosure for this sale can be found here. 45.97% of the stock is currently owned by company insiders.
Other large investors recently modified their holdings of the company. Chicago Equity Partners LLC raised its stake 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. Strs Ohio raised its stake 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. Royal Bank of Canada raised its stake in shares of PennyMac Financial Services by 37.3% in the first quarter. Royal Bank of Canada now owns 39,661 shares of the real estate investment trust’s stock worth $466,000 after buying an additional 10,766 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake 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. Finally, Renaissance Technologies LLC raised its stake in shares of PennyMac Financial Services by 84.1% in the first quarter. Renaissance Technologies LLC now owns 213,000 shares of the real estate investment trust’s stock worth $2,505,000 after buying an additional 97,300 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.
PennyMac Financial Services Company Profile
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. It operates through three segments: loan production, loan servicing and investment management.

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