Piper Sandler lowered the firm’s price target on PennyMac Financial (PFSI) to $128 from $130 due to slightly lower tangible book value estimates, while keeping an Overweight rating on the shares. The firm notes PennyMac posted an operating miss driven by lower gain on sale income, partially offset by higher servicing fees. However, the company maintained its ROE outlook of “mid-to-high teens” in 2025 despite the difficult mortgage environment.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PFSI:
- PennyMac Financial Reports Strong Q1 2025 Results
- PennyMac Financial reports Q1 EPS $1.42 vs 74c last year
- PFSI Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- PennyMac Financial price target lowered to $110 from $115 at UBS
- PennyMac Financial upgraded to Outperform from Market Perform at Keefe Bruyette