PennyMac Financial Services (NYSE:PFSI) CAO Sells $464,689.20 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory Hendry sold 3,530 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $131.64, for a total value of $464,689.20. Following the sale, the chief accounting officer directly owned 48,633 shares in the company, valued at $6,402,048.12. The trade was a 6.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $133.91 on Monday. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 14.43 and a beta of 1.58. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.36 and a quick ratio of 0.36. The business has a 50 day simple moving average of $127.98 and a 200-day simple moving average of $114.33. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $137.53.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.39. The firm had revenue of $632.90 million for the quarter, compared to the consensus estimate of $573.46 million. PennyMac Financial Services had a return on equity of 11.69% and a net margin of 25.21%.The company’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. Equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.20 annualized dividend and a dividend yield of 0.9%. PennyMac Financial Services’s dividend payout ratio is currently 12.93%.

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new position in shares of PennyMac Financial Services during the second quarter valued at $26,000. Strs Ohio purchased a new stake in PennyMac Financial Services in the first quarter worth about $30,000. Harbor Capital Advisors Inc. grew its holdings in PennyMac Financial Services by 26.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 105 shares in the last quarter. CWM LLC increased its position in PennyMac Financial Services by 92.7% during the 3rd quarter. CWM LLC now owns 555 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 267 shares during the period. Finally, Covestor Ltd raised its holdings in shares of PennyMac Financial Services by 95.5% in the 3rd quarter. Covestor Ltd now owns 567 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 277 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. UBS Group increased their price objective on shares of PennyMac Financial Services from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Wells Fargo & Company upped their target price on PennyMac Financial Services from $115.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of PennyMac Financial Services in a research note on Friday, October 31st. Zacks Research upgraded PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Piper Sandler increased their target price on PennyMac Financial Services from $136.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.43.

PennyMac Financial Services Company Profile

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.