Gregory L. Hendry Sells 3,032 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the transaction, the chief accounting officer now owns 48,040 shares in the company, valued at approximately $4,904,403.60. This represents a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

PennyMac Financial Services Stock Up 1.6 %

Shares of PFSI opened at $105.62 on Friday. The company’s 50-day simple moving average is $106.77 and its 200-day simple moving average is $100.23. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services, Inc. has a 1 year low of $76.57 and a 1 year high of $119.13. The stock has a market capitalization of $5.41 billion, a PE ratio of 33.53 and a beta of 1.79.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same period in the prior year, the company posted $1.77 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Analysts forecast that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

Institutional Trading of PennyMac Financial Services

Several hedge funds have recently added to or reduced their stakes in the company. Hohimer Wealth Management LLC purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at approximately $236,000. Geode Capital Management LLC grew its stake in shares of PennyMac Financial Services by 3.1% during the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after purchasing an additional 19,662 shares in the last quarter. Barclays PLC increased its holdings in PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock valued at $6,859,000 after buying an additional 50,238 shares during the last quarter. XTX Topco Ltd purchased a new stake in PennyMac Financial Services during the 3rd quarter worth about $614,000. Finally, State Street Corp increased its holdings in shares of PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after acquiring an additional 51,777 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PFSI. Barclays boosted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wedbush reiterated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Piper Sandler lifted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.86.

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. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.