The stock of PennyMac Financial Services Inc (NYSE:PFSI) hit a new 52-week high and has $18.90 target or 5.00% above today’s $18.00 share price. The 8 months bullish chart indicates low risk for the $414.45M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $18.90 price target is reached, the company will be worth $20.72M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 510,167 shares traded hands or 165.03% up from the average. PennyMac Financial Services Inc (NYSE:PFSI) has risen 47.62% since April 25, 2016 and is uptrending. It has outperformed by 41.61% the S&P500.
Analysts await PennyMac Financial Services Inc (NYSE:PFSI) to report earnings on February, 1. They expect $0.74 earnings per share, up 27.59% or $0.16 from last year’s $0.58 per share. PFSI’s profit will be $17.04 million for 6.08 P/E if the $0.74 EPS becomes a reality. After $1.06 actual earnings per share reported by PennyMac Financial Services Inc for the previous quarter, Wall Street now forecasts -30.19% negative EPS growth.
PennyMac Financial Services Inc (NYSE:PFSI) Ratings Coverage
Out of 8 analysts covering PennyMac Financial Services (NYSE:PFSI), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. PennyMac Financial Services has been the topic of 12 analyst reports since December 10, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Citigroup given on Thursday, August 4. Barclays Capital initiated PennyMac Financial Services Inc (NYSE:PFSI) rating on Thursday, December 10. Barclays Capital has “Overweight” rating and $20 price target. On Wednesday, October 26 the stock rating was initiated by Nomura with “Buy”. Bank of America downgraded the shares of PFSI in a report on Wednesday, September 28 to “Neutral” rating. The rating was reinitiated by Piper Jaffray with “Overweight” on Friday, September 9. The rating was downgraded by Compass Point to “Neutral” on Wednesday, September 28. The stock of PennyMac Financial Services Inc (NYSE:PFSI) earned “Neutral” rating by Goldman Sachs on Wednesday, January 13.
According to Zacks Investment Research, “PennyMac Financial Services, Inc. provides financial services primarily in the United States. The Company conducts its business in two segments: mortgage banking and investment management. Mortgage banking segment offers correspondent and retail lending businesses and loan servicing business. Investment management segment offers investment advisory and investment management services. PennyMac Financial Services, Inc. is headquartered in Moorpark, California.”
Insitutional Activity: The institutional sentiment decreased to 1.15 in 2016 Q2. Its down 0.37, from 1.52 in 2016Q1. The ratio dived, as 8 funds sold all PennyMac Financial Services Inc shares owned while 19 reduced positions. 10 funds bought stakes while 31 increased positions. They now own 20.46 million shares or 1.49% more from 20.16 million shares in 2016Q1.
Parametric Limited has 0% invested in the company for 20,649 shares. Manufacturers Life Com The holds 0% or 10,583 shares in its portfolio. Susquehanna Gru Ltd Liability Partnership holds 0% of its portfolio in PennyMac Financial Services Inc (NYSE:PFSI) for 50,448 shares. Moreover, Deere & Comm has 0.01% invested in PennyMac Financial Services Inc (NYSE:PFSI) for 11,521 shares. Basswood holds 258,499 shares or 0.19% of its portfolio. Cornercap Investment Counsel Inc has 0.1% invested in the company for 42,330 shares. Legal And General Grp Inc Pcl last reported 0% of its portfolio in the stock. Par holds 0.09% or 430,000 shares in its portfolio. Jacobs Levy Equity Mngmt, a New Jersey-based fund reported 20,490 shares. Philadelphia Management Of San Francisco Ltd Liability Corporation last reported 1.29 million shares in the company. Fincl Bank Of Montreal Can holds 439 shares or 0% of its portfolio. Greenwich Investment Mgmt Inc, a Connecticut-based fund reported 103,568 shares. State Street Corporation has 214,848 shares for 0% of their US portfolio. Moreover, State Common Retirement Fund has 0% invested in PennyMac Financial Services Inc (NYSE:PFSI) for 12,100 shares. Moreover, Metropolitan Life Ins has 0% invested in PennyMac Financial Services Inc (NYSE:PFSI) for 11,148 shares.
Insider Transactions: Since June 13, 2016, the stock had 0 insider purchases, and 19 insider sales for $2.72 million net activity. Shares for $166,934 were sold by Walker David M on Thursday, November 17. 5,000 shares were sold by MCCALLION ANNE, worth $83,085 on Friday, November 11. Hendry Gregory L also sold $1,960 worth of PennyMac Financial Services Inc (NYSE:PFSI) on Monday, June 13. COOPERMAN LEON G sold 37,211 shares worth $665,794. 189 PennyMac Financial Services Inc (NYSE:PFSI) shares with value of $2,555 were sold by Perotti Daniel Stanley.
More recent PennyMac Financial Services Inc (NYSE:PFSI) news were published by: Businesswire.com which released: “PennyMac Financial Services, Inc. Reports Third Quarter 2016 Results” on November 03, 2016. Also Businesswire.com published the news titled: “PennyMac Financial Services, Inc. Announces Date for Release of Third Quarter …” on October 25, 2016. Businesswire.com‘s news article titled: “PennyMac Financial Services, Inc. Reports Fourth Quarter 2015 Results” with publication date: February 03, 2016 was also an interesting one.
PFSI Company Profile
PennyMac Financial Services, Inc. (PFSI), incorporated on December 31, 2012, is a financial services company. The Firm 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. The Firm operates through three divisions: loan production, loan servicing and investment management. PFSI’s mortgage banking subsidiary, PennyMac Loan Services, LLC (PLS), is a non-bank producer and servicer of mortgage loans in the United States. PLS services loans in approximately 50 states of the United States, the District of Columbia, Guam and the United States Virgin Islands, and originates loans in approximately 50 states and the District of Columbia in the United States. PFSI’s investment management subsidiary, PNMAC Capital Management, LLC (PCM), is an investment advisor.
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