Abbie Tidmore Sells 2,669 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Abbie Tidmore sold 2,669 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $102.55, for a total transaction of $273,705.95. Following the completion of the sale, the executive now owns 4,878 shares in the company, valued at $500,238.90. This represents a 35.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $102.29 on Thursday. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The firm has a market cap of $5.26 billion, a PE ratio of 17.52, a P/E/G ratio of 0.19 and a beta of 1.90. The firm has a 50 day simple moving average of $103.28 and a 200-day simple moving average of $104.67. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, equities analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s payout ratio is 20.55%.

Institutional Trading of PennyMac Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFSI. Vanguard Group Inc. boosted its position in shares of PennyMac Financial Services by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock worth $294,835,000 after acquiring an additional 199,667 shares during the last quarter. FMR LLC raised its stake in PennyMac Financial Services by 11.9% during the fourth quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock worth $133,380,000 after purchasing an additional 138,853 shares during the period. Invesco Ltd. boosted its holdings in shares of PennyMac Financial Services by 0.3% in the 4th quarter. Invesco Ltd. now owns 1,183,458 shares of the real estate investment trust’s stock valued at $120,878,000 after purchasing an additional 3,527 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PennyMac Financial Services by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after buying an additional 21,751 shares during the last quarter. Finally, State Street Corp raised its position 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 worth $103,911,000 after buying an additional 51,777 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PFSI shares. Piper Sandler reduced their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods reduced their target price on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $122.17.

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.