Gregory Hendry Sells 2,177 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory Hendry sold 2,177 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $86.89, for a total transaction of $189,159.53. Following the transaction, the chief accounting officer owned 48,968 shares in the company, valued at $4,254,829.52. The trade was a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Financial Services Stock Down 1.5%

NYSE PFSI traded down $1.29 on Thursday, hitting $83.54. 548,240 shares of the company were exchanged, compared to its average volume of 714,470. The company has a market cap of $4.34 billion, a PE ratio of 8.88, a PEG ratio of 0.57 and a beta of 1.44. PennyMac Financial Services, Inc. has a 12 month low of $77.67 and a 12 month high of $160.36. The stock has a fifty day moving average of $85.48 and a 200-day moving average of $101.07. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 3.63.

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 the consensus estimate of $2.22 by ($0.03). PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The company had revenue of $544.98 million during the quarter, compared to the consensus estimate of $546.17 million. During the same period last year, the firm posted $1.42 earnings per share. The company’s revenue for the quarter was up 26.5% on a year-over-year basis. As a group, analysts forecast that PennyMac Financial Services, Inc. will post 10.68 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

PFSI has been the subject of several recent research reports. Weiss Ratings downgraded PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. BTIG Research reduced their price target on shares of PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $112.00 to $106.00 and set an “overweight” rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price objective on shares of PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, PennyMac Financial Services presently has an average rating of “Hold” and an average price target of $116.38.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of PFSI. Hudson Bay Capital Management LP purchased a new position in shares of PennyMac Financial Services during the third quarter valued at approximately $5,593,000. Picton Mahoney Asset Management raised its position in PennyMac Financial Services by 554.1% in the 3rd quarter. Picton Mahoney Asset Management now owns 28,872 shares of the real estate investment trust’s stock valued at $3,576,000 after buying an additional 24,458 shares during the last quarter. 140 Summer Partners LP bought a new position in PennyMac Financial Services during the 3rd quarter valued at $55,268,000. Norges Bank bought a new position in PennyMac Financial Services during the 4th quarter valued at $44,287,000. Finally, American Century Companies Inc. boosted its holdings in PennyMac Financial Services by 7.5% during the 3rd quarter. American Century Companies Inc. now owns 429,403 shares of the real estate investment trust’s stock worth $53,195,000 after acquiring an additional 30,015 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

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.