PennyMac Financial Received its Third Buy in a Row

By Jason Carr

After KBW and Barclays assigned a Buy rating to PennyMac Financial in the last month, the company received another Buy, this time from Piper Jaffray. Analyst Kevin Barker reiterated a Buy rating on PennyMac Financial (NYSE: PFSI) yesterday and set a price target of $28. The company’s shares opened today at $18.50.

According to, Barker is a 5-star analyst with an average return of 9.5% and a 71.2% success rate. Barker covers the Financial sector, focusing on stocks such as Altisource Portfolio Solutions SA, First Interstate Bancsystem, and Pinnacle Financial Partners.

Currently, the analyst consensus on PennyMac Financial is Strong Buy and the average price target is $23, representing a 24.3% upside.

In a report issued on November 3, Barclays also maintained a Buy rating on the stock with a $21 price target.

PennyMac Financial’s market cap is currently $430.7M and has a P/E ratio of 7.08. The company has a book value ratio of 1.0786.

Based on the recent corporate insider activity of 120 insiders, corporate insider sentiment is negative on the stock.

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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.