PennyMac (NYSE:PFSI) has been downgraded from Buy to Neutral in a statement by BofA Merrill earlier today.
- Updated: October 2, 2016
BofA Merrill has downgraded PennyMac (NYSE:PFSI) from Buy to Neutral in a statement released on 09/28/2016.
On 9/17/2016, Zacks Investment Research released a statement for PennyMac (NYSE:PFSI) bumped up the target price from $0.00 to $20.00 that suggested an upside of 0.13%.
Boasting a price of $17.35, PennyMac (NYSE:PFSI) traded 0.53% higher on the day. With the last stock price close up 22.86% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the date range. PennyMac has recorded a 50-day average of $16.76 and a two hundred day average of $13.85. Volume of trade was up over the average, with 149,263 shares of PFSI changing hands over the typical 90,009
With a total market value of $0, PennyMac has PE ratio of 8.28 with a one year low of $10.48 and a one year high of $18.13 .
A total of 10 brokerages have issued a ratings update on PennyMac. Three brokerages rating the company a strong buy, four brokerages rating the company a buy, four brokerages rating the company a hold, zero brokerages rating the company a underperform, and finally zero brokerages rating the company a sell with a 12-month price target of $16.75.
General Company Details For PennyMac (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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