PennyMac Financial Gets a Buy Rating from KBW

By Jason Carr

In a report released today, Frederick Cannon from KBW reiterated a Buy rating on PennyMac Financial (NYSE: PFSI), with a price target of $20. The company’s shares opened today at $16.55.

According to TipRanks.com, Cannon is a 4-star analyst with an average return of 14.6% and a 61.5% success rate. Cannon covers the Financial sector, focusing on stocks such as Bank of NT Butterfield & Son, Pacific Premier Bancorp Inc, and Pinnacle Financial Partners.

PennyMac Financial has an analyst consensus of Moderate Buy, with a price target consensus of $21.

The company has a one year high of $19.35 and a one year low of $11.47. Currently, PennyMac Financial has an average volume of 186.5K.

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PennyMac Financial Services, Inc. is a financial services company with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. residential mortgage loans and the management of investments related to the U.S. residential mortgage market. The company operates through the following business segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment sources mortgage loans through two channels: correspondent production and consumer direct lending. The Loan Servicing segment performs loan administration, collection, and default management activities. The Investment Management segment operates as an investment manager through the subsidiary, PNMAC Capital Management, LLC. The company was founded by Stanford L. Kurland on December 31, 2012 and is headquartered in Moorpark, CA.