Keefe, Bruyette & Woods Downgrades PennyMac Financial to Market Perform, Cuts Target to $80

Keefe, Bruyette & Woods downgraded PennyMac Financial Services, Inc. (NYSE: PFSI) to market perform from outperform before the open on Monday and cut its price target to $80 from $100.

Before the downgrade, seven firms had rated PennyMac Financial in the past year. Four rated the stock positive, three rated it neutral and none rated it negative. The median price target among those firms was $80, with targets ranging from $71 to $160.

The stock closed at $62.92 on Friday, Oct. 30, and had risen 1.5% over the past month to that close.

Company scale

PennyMac Financial reported revenue of $2.05 billion for 2025, up 28% from a year earlier, and net income of $501.1 million, up 61%. Diluted earnings per share were $9.30, compared with $5.84 in 2024. The company had a market capitalization of about $3.27 billion before this filing.

Recent filing

PennyMac Financial filed an 8-K with the Securities and Exchange Commission on Thursday, Oct. 29, at 4:30 p.m. ET, listing items including entry into a material definitive agreement, results of operations and financial condition, and departure or appointment of directors or officers. The actions came four days after that filing. The full filing is available on SEC EDGAR.