PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells $61,224.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 600 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $102.04, for a total value of $61,224.00. Following the completion of the transaction, the director now directly owns 23,892 shares in the company, valued at $2,437,939.68. The trade was a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Doug Jones also recently made the following trade(s):

• On Thursday, December 26th, Doug Jones sold 7,882 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.16, for a total value of $813,107.12.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.51, for a total transaction of $2,357,975.79.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $102.07 on Friday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 32.40 and a beta of 1.78. The stock’s 50-day moving average is $103.54 and its 200-day moving average is $102.41. PennyMac Financial Services, Inc. has a one year low of $81.93 and a one year high of $119.13.

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

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV grew its holdings in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 226 shares in the last quarter. Blue Trust Inc. increased its position in shares of PennyMac Financial Services by 59.5% during the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 262 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 290 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services in the third quarter valued at $37,000. Finally, Arizona State Retirement System increased its holdings in PennyMac Financial Services by 2.9% during the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock worth $1,135,000 after buying an additional 336 shares during the last quarter. 57.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Barclays boosted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Piper Sandler raised their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.50.

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.