PennyMac Financial Services (NYSE:PFSI) CAO Sells $240,472.53 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory Hendry sold 2,943 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $81.71, for a total value of $240,472.53. Following the sale, the chief accounting officer owned 48,968 shares of the company’s stock, valued at approximately $4,001,175.28. The trade was a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock opened at $86.02 on Friday. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 0.55 and a beta of 1.44. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. PennyMac Financial Services, Inc. has a 12-month low of $77.67 and a 12-month high of $160.36. The business’s 50-day simple moving average is $85.94 and its 200 day simple moving average is $102.20.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The business had revenue of $544.98 million for the quarter, compared to the consensus estimate of $546.17 million. PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the firm earned $1.42 earnings per share. As a group, research analysts anticipate that PennyMac Financial Services, Inc. will post 10.68 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, May 18th. PennyMac Financial Services’s payout ratio is presently 12.75%.

Hedge Funds Weigh In On PennyMac Financial Services

A number of large investors have recently added to or reduced their stakes in PFSI. EverSource Wealth Advisors LLC bought a new stake in shares of PennyMac Financial Services in the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its position in PennyMac Financial Services by 7,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 228 shares during the last quarter. Strs Ohio acquired a new stake in PennyMac Financial Services in the 1st quarter valued at approximately $30,000. Los Angeles Capital Management LLC bought a new stake in PennyMac Financial Services in the 4th quarter valued at approximately $31,000. Finally, GAMMA Investing LLC lifted its stake in PennyMac Financial Services by 97.3% in the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Wells Fargo & Company decreased their price objective on shares of PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. BTIG Research lowered their target price on shares of PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Barclays reduced their price target on shares of PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, Weiss Ratings lowered shares of PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, PennyMac Financial Services has an average rating of “Hold” and a consensus target price of $117.12.

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.