PennyMac Financial Services (NYSE:PFSI) CAO Gregory Hendry Sells 3,530 Shares

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

PennyMac Financial Services Trading Up 1.1%

Shares of NYSE:PFSI traded up $1.50 during trading on Friday, reaching $133.91. 606,701 shares of the company were exchanged, compared to its average volume of 377,681. The business’s fifty day simple moving average is $127.64 and its 200-day simple moving average is $113.78. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.36 and a quick ratio of 0.36. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $137.53. The firm has a market capitalization of $6.96 billion, a PE ratio of 14.43 and a beta of 1.58.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.39. The firm had revenue of $632.90 million during the quarter, compared to analyst estimates of $573.46 million. PennyMac Financial Services had a return on equity of 11.69% and a net margin of 25.21%.PennyMac Financial Services’s quarterly revenue was up 53.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PFSI. Zacks Research raised shares of PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Wells Fargo & Company boosted their price target on shares of PennyMac Financial Services from $115.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PennyMac Financial Services in a research report on Friday, October 31st. Wall Street Zen raised shares of PennyMac Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of PennyMac Financial Services from $138.00 to $143.00 and gave the stock a “market perform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.43.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors have recently bought and sold shares of PFSI. Maverick Capital Ltd. boosted its stake in PennyMac Financial Services by 150.4% in the 1st quarter. Maverick Capital Ltd. now owns 8,073 shares of the real estate investment trust’s stock worth $808,000 after purchasing an additional 4,849 shares in the last quarter. Advantage Alpha Capital Partners LP raised its holdings in shares of PennyMac Financial Services by 26.3% in the first quarter. Advantage Alpha Capital Partners LP now owns 55,376 shares of the real estate investment trust’s stock worth $5,544,000 after buying an additional 11,528 shares during the last quarter. Conversant Capital LLC raised its holdings in shares of PennyMac Financial Services by 25.1% in the first quarter. Conversant Capital LLC now owns 244,150 shares of the real estate investment trust’s stock worth $24,442,000 after buying an additional 49,000 shares during the last quarter. Creative Planning lifted its stake in shares of PennyMac Financial Services by 89.5% during the second quarter. Creative Planning now owns 13,495 shares of the real estate investment trust’s stock worth $1,345,000 after buying an additional 6,374 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of PennyMac Financial Services by 48.8% during the first quarter. Millennium Management LLC now owns 771,605 shares of the real estate investment trust’s stock valued at $77,245,000 after buying an additional 253,031 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.