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Fly News Breaks for November 19, 2019
PFSI
Nov 19, 2019 | 06:08 EDT
Piper Jaffray analyst Kevin Barker raised his price target for PennyMac Financial to $44 from $42 and reiterates an Overweight rating on the shares following meetings with management. The analyst left the meetings with "even greater conviction" that the current origination wave can continue into Q4 and potentially well into 2020. Further, PennyMac is poised to see servicing profit margins expand as prepay speeds slow from recent cyclical highs and the recent unveiling of its new servicing system, Barker tells investors in a research note.
News For PFSI From the Last 2 Days
PFSI
Apr 26, 2024 | 07:37 EDT
Wells Fargo lowered the firm's price target on PennyMac Financial to $105 from $110 and keeps an Overweight rating on the shares. There was a lot to like in the quarter including a 15% operating ROE and better than expected production earnings while servicing continues to be an important contributor, the analyst tells investors in a research note.
PFSI
Apr 25, 2024 | 08:50 EDT
Deutsche Bank lowered the firm's price target on PennyMac Financial to $112 from $115 and keeps a Buy rating on the shares. The analyst says the company's Q1 margins offset volume weakness.
