PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Sells $309,536.88 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory L. Hendry sold 3,032 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the sale, the chief accounting officer now owns 48,040 shares of the company’s stock, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

PennyMac Financial Services Price Performance

Shares of PFSI stock traded up $1.23 during mid-day trading on Thursday, reaching $103.95. The stock had a trading volume of 152,692 shares, compared to its average volume of 258,126. PennyMac Financial Services, Inc. has a 12-month low of $76.57 and a 12-month high of $119.13. The company has a market cap of $5.33 billion, a P/E ratio of 33.00 and a beta of 1.79. The business has a 50-day simple moving average of $106.96 and a 200 day simple moving average of $100.09. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share 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 firm had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the prior year, the business earned $1.77 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

Institutional Trading of PennyMac Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFSI. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services during the 3rd quarter worth about $37,000. Blue Trust Inc. increased its position in PennyMac Financial Services by 1,529.6% during the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 109 shares during the last quarter. KBC Group NV boosted its stake in PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 226 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PFSI. 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. Barclays upped 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. Piper Sandler upped their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $115.86.

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.