David Spector Sells 5,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the sale, the chief executive officer now owns 165,604 shares in the company, valued at approximately $16,457,725.52. The trade was a 2.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.72, for a total value of $6,217,126.40.
• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $104.95, for a total value of $1,049,500.00.
• On Tuesday, November 12th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $105.04, for a total value of $1,050,400.00.
• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00.

PennyMac Financial Services Price Performance

NYSE:PFSI traded down $3.13 during trading hours on Friday, reaching $96.39. The stock had a trading volume of 297,030 shares, compared to its average volume of 309,055. The stock has a market capitalization of $4.94 billion, a PE ratio of 30.60 and a beta of 1.78. PennyMac Financial Services, Inc. has a 52 week low of $81.93 and a 52 week high of $119.13. The company has a 50 day moving average price of $103.34 and a two-hundred day moving average price of $102.96. 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 (NYSE:PFSI) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same period in the previous year, the company earned $1.77 EPS. PennyMac Financial Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s payout ratio is 38.10%.

Analysts Set New Price Targets

PFSI has been the topic of several research reports. Wells Fargo & Company raised their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Barclays lifted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered their target price on 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. Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Piper Sandler raised their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $122.50.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new position in shares of PennyMac Financial Services during the 3rd quarter worth about $37,000. Blue Trust Inc. raised its position in 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 valued at $80,000 after purchasing an additional 262 shares in the last quarter. KBC Group NV lifted its stake in PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 226 shares during the period. Quantbot Technologies LP boosted its stake in shares of PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 290 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in PennyMac Financial Services during the third quarter valued at approximately $203,000. 57.87% of the stock is owned by institutional investors.

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.