David Spector Sells 15,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, June 8th. The shares were sold at an average price of $61.99, for a total value of $929,850.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

David Spector also recently made the following trade(s):

  • On Monday, May 17th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $60.94, for a total value of $914,100.00.
  • On Monday, April 12th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $58.62, for a total value of $879,300.00.
  • On Monday, March 29th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $65.88, for a total value of $988,200.00.
  • On Friday, March 26th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $64.78, for a total value of $971,700.00.

Shares of PennyMac Financial Services stock opened at $61.07 on Friday. The firm has a fifty day simple moving average of $60.19. The company has a market cap of $4.08 billion, a P/E ratio of 2.71 and a beta of 1.18. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 3.66. PennyMac Financial Services, Inc. has a 52 week low of $35.06 and a 52 week high of $70.99.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, May 6th. The real estate investment trust reported $5.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.79 by ($0.64). The business had revenue of $944.69 million during the quarter, compared to the consensus estimate of $982.06 million. PennyMac Financial Services had a net margin of 43.72% and a return on equity of 55.61%. The business’s revenue was up 30.9% compared to the same quarter last year. During the same period last year, the company earned $3.73 EPS. On average, equities analysts anticipate that PennyMac Financial Services, Inc. will post 17.61 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 27th. Stockholders of record on Monday, May 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, May 14th. PennyMac Financial Services’s payout ratio is 3.82%.

A number of research analysts recently commented on the company. Piper Sandler lowered their price target on PennyMac Financial Services from $107.00 to $97.00 and set an “overweight” rating on the stock in a report on Friday, May 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $73.00 price target (down from $77.00) on shares of PennyMac Financial Services in a report on Tuesday, April 13th. Zacks Investment Research cut PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Thursday, May 13th. JMP Securities lowered their price target on PennyMac Financial Services from $85.00 to $75.00 and set a “market outperform” rating on the stock in a report on Thursday, June 3rd. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $70.00 price objective (down from $75.00) on shares of PennyMac Financial Services in a report on Thursday, March 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $79.50.

Several institutional investors and hedge funds have recently bought and sold shares of PFSI. Parkside Financial Bank & Trust grew its position in shares of PennyMac Financial Services by 92.1% during the 1st quarter. Parkside Financial Bank & Trust now owns 461 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 221 shares in the last quarter. CI Investments Inc. purchased a new stake in shares of PennyMac Financial Services during the 4th quarter worth $81,000. Point72 Hong Kong Ltd purchased a new stake in shares of PennyMac Financial Services during the 1st quarter worth $83,000. US Bancorp DE lifted its stake in shares of PennyMac Financial Services by 17.0% during the 4th quarter. US Bancorp DE now owns 1,341 shares of the real estate investment trust’s stock worth $88,000 after purchasing an additional 195 shares during the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in shares of PennyMac Financial Services by 100.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 2,000 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 1,000 shares during the last quarter. 50.28% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.

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Insider Buying and Selling by Quarter for PennyMac Financial Services (NYSE:PFSI)

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