BTIG Keeps Their Buy Rating on PennyMac Financial (PFSI)

In a report released yesterday, Eric Hagen from BTIG maintained a Buy rating on PennyMac Financial (PFSIResearch Report), with a price target of $65.00. The company’s shares closed yesterday at $57.71.

According to TipRanks, Hagen is an analyst with an average return of -7.6% and a 28.91% success rate. Hagen covers the Financial sector, focusing on stocks such as AGNC Investment, Two Harbors, and Redwood.

PennyMac Financial has an analyst consensus of Moderate Buy, with a price target consensus of $71.75.

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Based on PennyMac Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $444.4 million and a net profit of $37.62 million. In comparison, last year the company earned a revenue of $784.83 million and had a net profit of $173.08 million

Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PFSI in relation to earlier this year. Last month, Doug Jones, the President & Chief Mtg Bkg Ofcr of PFSI sold 15,882.00 shares for a total of $1,047,576.72.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

PennyMac Financial Services, Inc. is a holding company, which engages in the mortgage banking and investment management activities. It operates through the following segments: Production, Servicing, and Investment Management. The Production segment includes mortgage loan origination, acquisition, and sale activities. The Servicing segment servicing of newly originated mortgage loans; and execution and management of early buyout transactions. The Investment Management segment consists of sourcing, performing diligence, bidding and closing investment asset acquisitions, managing correspondent production activities, and managing the acquired assets. The company was founded by Stanford L. Kurland in 2008 and is headquartered in Westlake Village, CA.

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