Insider Selling: PennyMac Financial Services (NYSE:PFSI) CAO Sells $189,159.53 in Stock

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

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $83.54 on Friday. The business’s 50-day moving average price is $85.20 and its 200-day moving average price is $100.62. PennyMac Financial Services, Inc. has a 12 month low of $77.67 and a 12 month high of $160.36. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 0.56 and a beta of 1.44. 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 released its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.03). The firm had revenue of $544.98 million during the quarter, compared to analyst estimates of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 EPS. Equities research analysts forecast that PennyMac Financial Services, Inc. will post 10.43 EPS for the current year.

PennyMac Financial Services Announces Dividend

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

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in PennyMac Financial Services by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,832,737 shares of the real estate investment trust’s stock valued at $373,468,000 after buying an additional 12,782 shares during the period. Dimensional Fund Advisors LP raised its position in shares of PennyMac Financial Services by 7.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,916,271 shares of the real estate investment trust’s stock worth $167,474,000 after acquiring an additional 126,902 shares in the last quarter. Invesco Ltd. raised its position in shares of PennyMac Financial Services by 7.3% in the 4th quarter. Invesco Ltd. now owns 1,569,184 shares of the real estate investment trust’s stock worth $206,881,000 after acquiring an additional 106,088 shares in the last quarter. 140 Summer Partners LP lifted its stake in shares of PennyMac Financial Services by 50.2% in the 4th quarter. 140 Summer Partners LP now owns 669,892 shares of the real estate investment trust’s stock valued at $88,319,000 after purchasing an additional 223,752 shares during the period. Finally, Basswood Capital Management L.L.C. lifted its stake in shares of PennyMac Financial Services by 5.9% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 570,210 shares of the real estate investment trust’s stock valued at $56,816,000 after purchasing an additional 31,743 shares during the period. Institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PFSI. Stephens assumed coverage on shares of PennyMac Financial Services in a report on Friday, April 24th. They set an “equal weight” rating and a $100.00 price target on the stock. Piper Sandler decreased their price objective on PennyMac Financial Services from $112.00 to $106.00 and set an “overweight” rating for the company in a report on Thursday. Wall Street Zen raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods reduced their price target on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Finally, Barclays decreased their price target on PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.38.

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.