PennyMac Financial Services (NYSE:PFSI) CFO Daniel Stanley Perotti Sells 2,925 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 2,925 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $93.30, for a total value of $272,902.50. Following the sale, the chief financial officer directly owned 213,550 shares of the company’s stock, valued at approximately $19,924,215. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

PennyMac Financial Services Trading Up 2.4%

Shares of NYSE PFSI traded up $2.25 during mid-day trading on Wednesday, hitting $96.13. The stock had a trading volume of 956,662 shares, compared to its average volume of 1,283,167. The business has a 50 day moving average price of $127.43 and a two-hundred day moving average price of $122.87. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $160.36. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $5.00 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 0.53 and a beta of 1.54.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.23 by ($1.26). PennyMac Financial Services had a return on equity of 10.36% and a net margin of 24.48%.The firm had revenue of $538.01 million during the quarter, compared to the consensus estimate of $639.81 million. During the same period last year, the business earned $1.95 EPS. PennyMac Financial Services’s revenue was up 14.4% on a year-over-year basis. On average, equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Monday, February 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.2%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.90%.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of PennyMac Financial Services by 3.8% during the 1st quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock valued at $2,404,000 after buying an additional 875 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in PennyMac Financial Services by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock valued at $1,594,000 after acquiring an additional 706 shares during the period. Intech Investment Management LLC boosted its stake in PennyMac Financial Services by 5.8% during the first quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust’s stock worth $1,540,000 after acquiring an additional 840 shares in the last quarter. Strs Ohio purchased a new stake in PennyMac Financial Services in the first quarter worth about $30,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of PennyMac Financial Services during the second quarter valued at approximately $366,000. Institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings cut PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods dropped their price target on PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating for the company in a research note on Monday, February 2nd. UBS Group lifted their price target on shares of PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Jefferies Financial Group began coverage on shares of PennyMac Financial Services in a report on Friday, December 19th. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Zacks Research cut shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $139.71.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.