PennyMac Financial Services Inc (NYSE:PFSI) CEO David Spector sold 10,416 shares of the firm’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $22.31, for a total transaction of $232,380.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

David Spector also recently made the following trade(s):

  • On Friday, December 29th, David Spector sold 10,416 shares of PennyMac Financial Services stock. The shares were sold at an average price of $22.31, for a total transaction of $232,380.96.

PennyMac Financial Services Inc (PFSI) traded up $0.15 on Wednesday, hitting $23.40. 263,192 shares of the company were exchanged, compared to its average volume of 264,000. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.16 and a quick ratio of 0.16. PennyMac Financial Services Inc has a one year low of $15.65 and a one year high of $23.65. The company has a market capitalization of $541.46, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.52 and a beta of 0.68.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.71 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.71. PennyMac Financial Services had a net margin of 6.47% and a return on equity of 4.11%. The company had revenue of $250.64 million for the quarter, compared to analyst estimates of $238.59 million. The firm’s revenue was down 14.0% compared to the same quarter last year. analysts predict that PennyMac Financial Services Inc will post 2.29 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its position in shares of PennyMac Financial Services by 1,652.1% during the second quarter. Citigroup Inc. now owns 6,150 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 5,799 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of PennyMac Financial Services by 17.6% during the second quarter. Victory Capital Management Inc. now owns 6,964 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 1,042 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of PennyMac Financial Services during the second quarter valued at about $174,000. The Manufacturers Life Insurance Company lifted its position in shares of PennyMac Financial Services by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,732 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 1,312 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of PennyMac Financial Services by 23.6% during the second quarter. Cubist Systematic Strategies LLC now owns 13,025 shares of the real estate investment trust’s stock valued at $218,000 after purchasing an additional 2,489 shares in the last quarter. 90.83% of the stock is currently owned by institutional investors.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Piper Jaffray Companies reaffirmed a “buy” rating on shares of PennyMac Financial Services in a research note on Tuesday, September 19th. Barclays set a $25.00 price objective on shares of PennyMac Financial Services and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, ValuEngine raised shares of PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $23.25.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/03/pennymac-financial-services-inc-pfsi-ceo-sells-232380-96-in-stock.html.

About PennyMac Financial Services

PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.

Insider Buying and Selling by Quarter for PennyMac Financial Services (NYSE:PFSI)

Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.