PennyMac Financial Services (NYSE:PFSI – Get Free Report) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $1.85 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.80), Briefing.com reports. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The business had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. During the same period in the previous year, the business posted $1.11 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis.
PennyMac Financial Services Trading Down 3.8 %
PennyMac Financial Services stock traded down $3.83 during trading on Wednesday, reaching $96.57. 462,041 shares of the company were exchanged, compared to its average volume of 243,883. PennyMac Financial Services has a 52-week low of $62.15 and a 52-week high of $105.94. The company has a market capitalization of $4.92 billion, a P/E ratio of 33.95, a PEG ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.39 and a quick ratio of 0.39. The stock’s 50 day simple moving average is $93.55 and its two-hundred day simple moving average is $90.06.
PennyMac Financial Services Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Tuesday, August 13th will be given a dividend of $0.30 per share. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on PennyMac Financial Services
Insider Buying and Selling
In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total transaction of $931,600.00. Following the transaction, the chief executive officer now owns 240,604 shares in the company, valued at $22,414,668.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total transaction of $931,600.00. Following the transaction, the chief executive officer now owns 240,604 shares in the company, valued at $22,414,668.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $92.00, for a total value of $1,048,800.00. Following the transaction, the chief financial officer now owns 246,497 shares in the company, valued at approximately $22,677,724. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,865 shares of company stock worth $8,045,169. 16.60% of the stock is owned by corporate insiders.
About PennyMac Financial Services
PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company 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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