PennyMac Financial Services (NYSE:PFSI) has been downgraded from Buy to Neutral in a report by Bank of America (Merrill Lynch) today.
- Updated: October 2, 2016
Just yesterday PennyMac Financial Services (NYSE:PFSI) traded 0.53% higher at $17.35. PennyMac Financial Services’s 50-day moving average is $16.76 and its 200-day moving average is $13.85. The last stock price is up 22.86% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 149,263 shares of PFSI traded hands, up from an average trading volume of 90,009
Bank of America (Merrill Lynch) has downgraded PennyMac Financial Services (NYSE:PFSI) from Buy to Neutral in a statement released on 9/28/2016.
Previously on 9/17/2016, Zacks Investment Research released a statement about PennyMac Financial Services (NYSE:PFSI) increased the target price from $0.00 to $20.00. At the time, this indicated a possible upside of 0.13%.
Recent Performance Chart
PennyMac Financial Services has 52 week low of $10.48 and a 52 week high of $18.13 with a PE ratio of 8.28 and has a market capitalization of $0.
In addition to Bank of America (Merrill Lynch) reporting its stock price target, a total of 10 brokerages have issued a ratings update on the company. The average stock price target is $16.75 with 3 brokerages rating the stock a strong buy, 4 brokerages rating the stock a buy, 4 brokerages rating the stock a hold, 0 brokerages rating the stock a underperform, and finally 0 brokerages rating the stock a sell.
Brief Synopsis On PennyMac Financial Services (NYSE:PFSI)
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. Its loan production segment is sourced through approximately two channels: correspondent production and consumer direct lending. Its loan servicing segment 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; counseling delinquent mortgagors, and supervising foreclosures and property dispositions. Its investment management segment represents the activities of the Company's investment manager, which include sourcing, performing diligence, bidding and closing investment asset acquisitions.
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