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Recommendations
PennyMac Financial price target lowered to $79 from $82 at Piper Sandler » 06:16
06/28/22
06/28
06:16
06/28/22
06:16
PFSI

PennyMac Financial

$44.36 /

+0.415 (+0.94%)

Piper Sandler analyst…

Piper Sandler analyst Kevin Barker lowered the firm's price target on PennyMac Financial to $79 from $82 and keeps an Overweight rating on the shares. The analyst expects Q2 mortgage banking earnings to be under pressure due to margin compression and reduced origination volume with higher interest rates halting refinance demand. He continues to recommend investors favor originators with valuation support, relatively large servicing fee streams, and the potential for company-specific catalysts.

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PFSI PennyMac Financial
$44.36 /

+0.415 (+0.94%)

PFSI PennyMac Financial
$44.36 /

+0.415 (+0.94%)

05/25/22 JMP Securities
PennyMac Financial price target lowered to $65 from $75 at JMP Securities
05/09/22 Barclays
PennyMac Financial price target lowered to $90 from $103 at Barclays
04/20/22 BTIG
BTIG starts PennyMac Financial at Buy with $60 price target
04/20/22 BTIG
PennyMac Financial initiated with a Buy at BTIG
PFSI PennyMac Financial
$44.36 /

+0.415 (+0.94%)

Over a month ago
Recommendations
PennyMac Financial price target lowered to $65 from $75 at JMP Securities » 06:19
05/25/22
05/25
06:19
05/25/22
06:19
PFSI

PennyMac Financial

$49.56 /

+0.16 (+0.32%)

JMP Securities analyst…

JMP Securities analyst Trevor Cranston lowered the firm's price target on PennyMac Financial to $65 from $75 to reflect the rapid increase in interest rates this year and the pressure that has created on origination economics but keeps an Outperform rating on the shares. Cranston states that PennyMac's current valuation of 80% of book value represents an "attractive long-term value" and that the stock should be a relative winner within the industry as it adjusts to a different interest rate and origination environment.

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PFSI PennyMac Financial
$49.56 /

+0.16 (+0.32%)

PFSI PennyMac Financial
$49.56 /

+0.16 (+0.32%)

05/09/22 Barclays
PennyMac Financial price target lowered to $90 from $103 at Barclays
04/20/22 BTIG
BTIG starts PennyMac Financial at Buy with $60 price target
04/20/22 BTIG
PennyMac Financial initiated with a Buy at BTIG
04/12/22 Barclays
PennyMac Financial price target lowered to $103 from $113 at Barclays
PFSI PennyMac Financial
$49.56 /

+0.16 (+0.32%)

Recommendations
PennyMac Financial price target lowered to $90 from $103 at Barclays » 06:40
05/09/22
05/09
06:40
05/09/22
06:40
PFSI

PennyMac Financial

$48.43 /

+0.09 (+0.19%)

Barclays analyst Mark…

Barclays analyst Mark DeVries lowered the firm's price target on PennyMac Financial to $90 from $103 and keeps an Overweight rating on the shares. The company's earnings missed in the quarter with the challenging environment likely to continue through the middle of 2022, DeVries tells investors in a research note.

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PFSI PennyMac Financial
$48.43 /

+0.09 (+0.19%)

PFSI PennyMac Financial
$48.43 /

+0.09 (+0.19%)

04/20/22 BTIG
BTIG starts PennyMac Financial at Buy with $60 price target
04/20/22 BTIG
PennyMac Financial initiated with a Buy at BTIG
04/12/22 Barclays
PennyMac Financial price target lowered to $103 from $113 at Barclays
04/05/22 Piper Sandler
PennyMac Financial price target lowered to $98 from $117 at Piper Sandler
PFSI PennyMac Financial
$48.43 /

+0.09 (+0.19%)

Earnings
PennyMac Financial reports Q1 EPS $2.94, consensus $2.45 » 16:35
05/05/22
05/05
16:35
05/05/22
16:35
PFSI

PennyMac Financial

$48.36 /

-2.45 (-4.82%)

Reports Q1 revenue…

Reports Q1 revenue $657.504M, consensus $630.37M. "PFSI reported solid first quarter financial results, producing an annualized return on equity of 20 percent and demonstrating the strength of our balanced business model against a backdrop of rapid and significant increases in mortgage rates," said Chairman and Chief Executive Officer David Spector. "Our earnings were driven by strong contributions from our large and growing servicing portfolio with 2.2 million customers and nearly $520 billion in unpaid principal balance. However, the unprecedented increase in mortgage rates resulted in lower overall industry origination volumes and left originators and aggregators who still hold excess operational capacity competing for a much smaller population of loans. This transitioning mortgage origination market contributed to the reduced financial performance in our production business." Spector continued, "We remain committed to driving further efficiencies across the platform while actively aligning our expense base with the expected lower levels of activity. As a public company for nearly nine years, PennyMac Financial has a long history of demonstrating success while managing through varying interest rate environments. I believe our scaled and comprehensive platform, including our commitment to enterprise risk management, and new initiatives across our business will enable us to navigate this challenging mortgage market."

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PFSI PennyMac Financial
$48.36 /

-2.45 (-4.82%)

PFSI PennyMac Financial
$48.36 /

-2.45 (-4.82%)

04/20/22 BTIG
BTIG starts PennyMac Financial at Buy with $60 price target
04/20/22 BTIG
PennyMac Financial initiated with a Buy at BTIG
04/12/22 Barclays
PennyMac Financial price target lowered to $103 from $113 at Barclays
04/05/22 Piper Sandler
PennyMac Financial price target lowered to $98 from $117 at Piper Sandler
PFSI PennyMac Financial
$48.36 /

-2.45 (-4.82%)

Hot Stocks
CFPB invokes dormant authority to examine nonbank companies » 11:45
04/25/22
04/25
11:45
04/25/22
11:45
RKT

Rocket Companies

$9.26 /

+0.595 (+6.87%)

, LDI

LoanDepot

$3.33 /

-0.015 (-0.45%)

, SOFI

SoFi Technologies

$6.53 /

+0.125 (+1.95%)

, PYPL

PayPal

$86.85 /

+0.825 (+0.96%)

, PFSI

PennyMac Financial

$48.66 /

+0.29 (+0.60%)

, UPST

Upstart

$78.78 /

+3.74 (+4.98%)

, AFRM

Affirm

$32.05 /

+0.88 (+2.82%)

, INTU

Intuit

$438.58 /

-5.015 (-1.13%)

, LC

LendingClub

$13.81 /

+0.44 (+3.29%)

, SQ

Block

$106.06 /

+3.38 (+3.29%)

The Consumer Financial…

The Consumer Financial Protection Bureau announced that it is invoking a largely unused legal provision to examine nonbank financial companies that pose risks to consumers. The CFPB believes that utilizing this dormant authority will help protect consumers and level the playing field between banks and nonbanks. The CFPB is also seeking public comments on a procedural rule to make this process more transparent. "Given the rapid growth of consumer offerings by nonbanks, the CFPB is now utilizing a dormant authority to hold nonbanks to the same standards that banks are held to," said CFPB Director Rohit Chopra. "This authority gives us critical agility to move as quickly as the market, allowing us to conduct examinations of financial companies posing risks to consumers and stop harm before it spreads." The CFPB is also issuing a procedural rule to increase the transparency of the risk-determination process. Unlike other provisions of law regarding nonbank supervision, entities subject to supervision based on risk are given notice and an opportunity to respond. In order to provide greater guidance to the marketplace on how the CFPB will make determinations, the CFPB is updating an aspect of its procedures for risk determinations to authorize the release of certain information about any final determinations made. Publicly traded companies that may be impacted include Rocket (RKT), LoanDepot (LDI), Lending Club (LC), Block (SQ), PayPal (PYPL), and SOFI (SOFI).

ShowHide Related Items >><<
UPST Upstart
$78.78 /

+3.74 (+4.98%)

SQ Block
$106.06 /

+3.38 (+3.29%)

SOFI SoFi Technologies
$6.53 /

+0.125 (+1.95%)

RKT Rocket Companies
$9.26 /

+0.595 (+6.87%)

PYPL PayPal
$86.85 /

+0.825 (+0.96%)

PFSI PennyMac Financial
$48.66 /

+0.29 (+0.60%)

LDI LoanDepot
$3.33 /

-0.015 (-0.45%)

LC LendingClub
$13.81 /

+0.44 (+3.29%)

INTU Intuit
$438.58 /

-5.015 (-1.13%)

AFRM Affirm
$32.05 /

+0.88 (+2.82%)

RKT Rocket Companies
$9.26 /

+0.595 (+6.87%)

04/12/22 Barclays
Rocket Companies price target lowered to $13 from $14 at Barclays
02/28/22 Barclays
Rocket Companies price target lowered to $14 from $19 at Barclays
02/28/22 Citi
Rocket Companies price target lowered to $14 from $23 at Citi
02/22/22 BofA
BofA downgrades Rocket Companies to sell on lower originations
LDI LoanDepot
$3.33 /

-0.015 (-0.45%)

04/12/22 Barclays
LoanDepot price target lowered to $5 from $6 at Barclays
04/05/22 Piper Sandler
LoanDepot price target lowered to $6 from $7 at Piper Sandler
02/02/22 Raymond James
LoanDepot downgraded to Market Perform from Outperform at Raymond James
01/05/22 Piper Sandler
LoanDepot upgraded to Overweight from Neutral at Piper Sandler
SOFI SoFi Technologies
$6.53 /

+0.125 (+1.95%)

04/08/22 Citi
SoFi Technologies price target lowered to $17 from $20 at Citi
04/07/22 BofA
SoFi Technologies price target lowered to $12 from $14 at BofA
04/07/22 Morgan Stanley
SoFi FY22 EBITDA estimates cut at Morgan Stanley after guidance lowered
04/07/22 Wedbush
SoFi Technologies price target lowered to $15 from $20 at Wedbush
PYPL PayPal
$86.85 /

+0.825 (+0.96%)

04/24/22 Citi
PayPal price target lowered to $140 from $185 at Citi
04/22/22 RBC Capital
PayPal price target lowered to $118 from $180 at RBC Capital
04/20/22 SMBC Nikko
PayPal price target lowered to $105 from $125 at SMBC Nikko
04/18/22 Deutsche Bank
PayPal should lower growth target to 15% from 20%, says Deutsche Bank
PFSI PennyMac Financial
$48.66 /

+0.29 (+0.60%)

04/20/22 BTIG
BTIG starts PennyMac Financial at Buy with $60 price target
04/20/22 BTIG
PennyMac Financial initiated with a Buy at BTIG
04/12/22 Barclays
PennyMac Financial price target lowered to $103 from $113 at Barclays
04/05/22 Piper Sandler
PennyMac Financial price target lowered to $98 from $117 at Piper Sandler
UPST Upstart
$78.78 /

+3.74 (+4.98%)

04/22/22 Citi
Citi cuts Upstart target to $180 from $350, calls 'top contrarian Buy'
04/21/22 Compass Point
Berkshire Hills Bancorp cut to Sell at Compass Point on risk from new venture
04/12/22 FBN Securities
Upstart initiated with an Outperform at FBN Securities
04/05/22 Loop Capital
Loop Capital starts Upstart at Buy with positive view of its 'unique' platform
AFRM Affirm
$32.05 /

+0.88 (+2.82%)

04/21/22 Credit Suisse
Affirm securitization data show positive seasonal trends, says Credit Suisse
04/18/22 Gordon Haskett
Block director exit notable due to 'overlap' language, says Gordon Haskett
04/06/22 Piper Sandler
Affirm price target lowered to $58 from $65 at Piper Sandler
04/05/22 MoffettNathanson
Affirm initiated with a Neutral at MoffettNathanson
INTU Intuit
$438.58 /

-5.015 (-1.13%)

04/25/22 Wells Fargo
Intuit price target lowered to $635 from $725 at Wells Fargo
03/21/22 BMO Capital
Indicators suggest 'slow forming tax season' for Intuit, says BMO Capital
03/21/22 Stifel
Intuit price target lowered to $580 from $600 at Stifel
03/11/22 Edward Jones
Intuit upgraded to Buy from Hold at Edward Jones
LC LendingClub
$13.81 /

+0.44 (+3.29%)

02/07/22 Wedbush
LendingClub price target lowered to $30 from $35 at Wedbush
01/27/22 Wedbush
LendingClub price target lowered to $35 from $40 at Wedbush
01/27/22 Credit Suisse
LendingClub price target lowered to $27 from $34 at Credit Suisse
01/12/22 Janney Montgomery Scott
LendingClub upgraded to Buy from Neutral at Janney Montgomery Scott
SQ Block
$106.06 /

+3.38 (+3.29%)

04/25/22 Credit Suisse
Block price target lowered to $180 from $190 at Credit Suisse
04/14/22 Barclays
Block price target lowered to $182 from $205 at Barclays
04/07/22 Cowen
Yellen remarks 'tacit support' for Gensler's crypto regulations, Cowen says
UPST Upstart
$78.78 /

+3.74 (+4.98%)

SQ Block
$106.06 /

+3.38 (+3.29%)

SOFI SoFi Technologies
$6.53 /

+0.125 (+1.95%)

RKT Rocket Companies
$9.26 /

+0.595 (+6.87%)

PYPL PayPal
$86.85 /

+0.825 (+0.96%)

PFSI PennyMac Financial
$48.66 /

+0.29 (+0.60%)

LDI LoanDepot
$3.33 /

-0.015 (-0.45%)

LC LendingClub
$13.81 /

+0.44 (+3.29%)

INTU Intuit
$438.58 /

-5.015 (-1.13%)

AFRM Affirm
$32.05 /

+0.88 (+2.82%)

  • 30
    Nov
  • 16
    Nov
  • 16
    Jun
SQ Block
$106.06 /

+3.38 (+3.29%)

PYPL PayPal
$86.85 /

+0.825 (+0.96%)

LC LendingClub
$13.81 /

+0.44 (+3.29%)

INTU Intuit
$438.58 /

-5.015 (-1.13%)

AFRM Affirm
$32.05 /

+0.88 (+2.82%)

UPST Upstart
$78.78 /

+3.74 (+4.98%)

SQ Block
$106.06 /

+3.38 (+3.29%)

SOFI SoFi Technologies
$6.53 /

+0.125 (+1.95%)

RKT Rocket Companies
$9.26 /

+0.595 (+6.87%)

PYPL PayPal
$86.85 /

+0.825 (+0.96%)

LDI LoanDepot
$3.33 /

-0.015 (-0.45%)

LC LendingClub
$13.81 /

+0.44 (+3.29%)

INTU Intuit
$438.58 /

-5.015 (-1.13%)

AFRM Affirm
$32.05 /

+0.88 (+2.82%)

UPST Upstart
$78.78 /

+3.74 (+4.98%)

SQ Block
$106.06 /

+3.38 (+3.29%)

SOFI SoFi Technologies
$6.53 /

+0.125 (+1.95%)

RKT Rocket Companies
$9.26 /

+0.595 (+6.87%)

PYPL PayPal
$86.85 /

+0.825 (+0.96%)

LDI LoanDepot
$3.33 /

-0.015 (-0.45%)

LC LendingClub
$13.81 /

+0.44 (+3.29%)

INTU Intuit
$438.58 /

-5.015 (-1.13%)

AFRM Affirm
$32.05 /

+0.88 (+2.82%)

Initiation
BTIG starts PennyMac Financial at Buy with $60 price target » 16:19
04/20/22
04/20
16:19
04/20/22
16:19
PFSI

PennyMac Financial

$49.94 /

+1.53 (+3.16%)

As previously reported,…

As previously reported, BTIG analyst Eric Hagen initiated coverage of PennyMac Financial with a Buy rating and $60 price target. As the largest correspondent loan aggregator in the U.S. and largest non-bank originator and servicer of government mortgage loans, PennyMac carries the most attractive scale and risk management among the originators on which he is launching coverage, Hagen tells investors. He sees PennyMac being in the best position among the group to repurchase stock in a backdrop of slower mortgage markets, Hagen added.

ShowHide Related Items >><<
PFSI PennyMac Financial
$49.94 /

+1.53 (+3.16%)

PFSI PennyMac Financial
$49.94 /

+1.53 (+3.16%)

04/20/22 BTIG
PennyMac Financial initiated with a Buy at BTIG
04/12/22 Barclays
PennyMac Financial price target lowered to $103 from $113 at Barclays
04/05/22 Piper Sandler
PennyMac Financial price target lowered to $98 from $117 at Piper Sandler
01/10/22 Barclays
PennyMac Financial price target raised to $113 from $103 at Barclays
PFSI PennyMac Financial
$49.94 /

+1.53 (+3.16%)

Initiation
PennyMac Financial initiated with a Buy at BTIG » 16:05
04/20/22
04/20
16:05
04/20/22
16:05
PFSI

PennyMac Financial

$49.95 /

+1.54 (+3.18%)

BTIG analyst Eric Hagen…

BTIG analyst Eric Hagen initiated coverage of PennyMac Financial with a Buy rating and $60 price target.

ShowHide Related Items >><<
PFSI PennyMac Financial
$49.95 /

+1.54 (+3.18%)

PFSI PennyMac Financial
$49.95 /

+1.54 (+3.18%)

04/12/22 Barclays
PennyMac Financial price target lowered to $103 from $113 at Barclays
04/05/22 Piper Sandler
PennyMac Financial price target lowered to $98 from $117 at Piper Sandler
01/10/22 Barclays
PennyMac Financial price target raised to $113 from $103 at Barclays
12/15/21 Jefferies
Bloomin', Callaway, Newell among five 'Franchise Picks' additions at Jefferies
PFSI PennyMac Financial
$49.95 /

+1.54 (+3.18%)

Recommendations
PennyMac Financial price target lowered to $103 from $113 at Barclays » 07:20
04/12/22
04/12
07:20
04/12/22
07:20
PFSI

PennyMac Financial

$47.30 /

+0.16 (+0.34%)

Barclays analyst Mark…

Barclays analyst Mark DeVries lowered the firm's price target on PennyMac Financial to $103 from $113 and keeps an Overweight rating on the shares. Sharply rising mortgage rates are likely to result in an abrupt end to the long refinance wave, and subsequently pressure profitability and valuations, DeVries tells investors in a research note. The analyst expects the first half of 2022 to be "one of the more challenging environments in recent memory for the originators." However, he says title insurers look better positioned to navigate declining refi demand.

ShowHide Related Items >><<
PFSI PennyMac Financial
$47.30 /

+0.16 (+0.34%)

PFSI PennyMac Financial
$47.30 /

+0.16 (+0.34%)

04/05/22 Piper Sandler
PennyMac Financial price target lowered to $98 from $117 at Piper Sandler
01/10/22 Barclays
PennyMac Financial price target raised to $113 from $103 at Barclays
12/15/21 Jefferies
Bloomin', Callaway, Newell among five 'Franchise Picks' additions at Jefferies
08/16/21 Wedbush
PennyMac Financial price target raised to $90 from $75 at Wedbush
PFSI PennyMac Financial
$47.30 /

+0.16 (+0.34%)

Over a quarter ago
Recommendations
PennyMac Financial price target lowered to $98 from $117 at Piper Sandler » 07:54
04/05/22
04/05
07:54
04/05/22
07:54
PFSI

PennyMac Financial

$52.45 /

-0.675 (-1.27%)

Piper Sandler analyst…

Piper Sandler analyst Kevin Barker lowered the firm's price target on PennyMac Financial to $98 from $117 and keeps an Overweight rating on the shares. The analyst expects Q1 mortgage banking earnings to be under pressure due to margin compression and increasing competitive pressures across all channels due to reduced seasonal demand combined with excess capacity. He continues to recommend investors favor originators "with valuation support, relatively large servicing fee streams, and the potential for company-specific catalysts." Agency mortgage real estate investment trusts also will see book value pressure due to spread widening, Barker contends.

ShowHide Related Items >><<
PFSI PennyMac Financial
$52.45 /

-0.675 (-1.27%)

PFSI PennyMac Financial
$52.45 /

-0.675 (-1.27%)

01/10/22 Barclays
PennyMac Financial price target raised to $113 from $103 at Barclays
12/15/21 Jefferies
Bloomin', Callaway, Newell among five 'Franchise Picks' additions at Jefferies
08/16/21 Wedbush
PennyMac Financial price target raised to $90 from $75 at Wedbush
08/09/21 Credit Suisse
PennyMac Financial price target raised to $84 from $72 at Credit Suisse
PFSI PennyMac Financial
$52.45 /

-0.675 (-1.27%)

Earnings
PennyMac Financial reports Q4 EPS $2.79, consensus $3.58 » 16:31
02/03/22
02/03
16:31
02/03/22
16:31
PFSI

PennyMac Financial

$58.70 /

-0.975 (-1.63%)

Reports Q4 revenue…

Reports Q4 revenue $693.8M, consensus $762.58M. "PennyMac Financial's results in the fourth quarter demonstrate the earnings power of our balanced mortgage banking model, with pretax income from our servicing business exceeding that from our production business," said Chairman and CEO David Spector. "The strong fourth quarter also culminated another year of outstanding operational performance for the company. In fact, Pennymac's total production for the year, including acquisitions made by PMT, was a record $234 billion in unpaid principal balance, up nearly 20 percent from the prior year. These production volumes led to servicing portfolio growth of 19 percent despite elevated prepayment activity throughout the year, and we ended 2021 with a servicing portfolio of approximately $510 billion in unpaid principal balance with more than 2.1 million customers. 2021 was also a year of exceptional financial performance, as PennyMac Financial delivered a return on equity of 29 percent and returned more than $1 billion in capital to stockholders through repurchases and cash dividends."

ShowHide Related Items >><<
PFSI PennyMac Financial
$58.70 /

-0.975 (-1.63%)

PFSI PennyMac Financial
$58.70 /

-0.975 (-1.63%)

01/10/22 Barclays
PennyMac Financial price target raised to $113 from $103 at Barclays
12/15/21 Jefferies
Bloomin', Callaway, Newell among five 'Franchise Picks' additions at Jefferies
08/16/21 Wedbush
PennyMac Financial price target raised to $90 from $75 at Wedbush
08/09/21 Credit Suisse
PennyMac Financial price target raised to $84 from $72 at Credit Suisse
PFSI PennyMac Financial
$58.70 /

-0.975 (-1.63%)

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