What To Know About Barclays's Downgrade of PennyMac Financial Servs
Barclays downgraded its rating of PennyMac Financial Servs (NYSE:PFSI) to Equal-Weight with a price target of $58.00, changing its price target from $55.00 to $58.00.
Shares of PennyMac Financial Servs are trading up 0.43% over the last 24 hours, at $58.80 per share.
A move to $58.00 would account for a 1.36% decline from the current share price.
About PennyMac Financial Servs
PennyMac Financial Services Inc is a United States-based financial services company primarily engaged in mortgage lending. The company operates through three segments: production, servicing, and investment management. The company's production and servicing segment together form the mortgage banking business that includes mortgage loan origination, acquisition, and sale activities; while the investment management segment includes investment manager's activities, such as performing diligence, and managing acquired assets. The company generates the majority of revenue from its mortgage banking business.
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