PennyMac Financial Services (NYSE:PFSI) CAO Gregory Hendry Sells 2,943 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory Hendry sold 2,943 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $81.71, for a total transaction of $240,472.53. Following the completion of the transaction, the chief accounting officer owned 48,968 shares in the company, valued at $4,001,175.28. This trade represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Financial Services Stock Performance

NYSE PFSI traded up $3.23 during trading hours on Wednesday, hitting $83.47. 679,974 shares of the company’s stock traded hands, compared to its average volume of 714,929. PennyMac Financial Services, Inc. has a 52 week low of $77.67 and a 52 week high of $160.36. The firm has a market capitalization of $4.33 billion, a P/E ratio of 8.87, a P/E/G ratio of 0.52 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. The business’s fifty day moving average price is $86.41 and its two-hundred day moving average price is $102.98.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.03). The business had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The company’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. Equities research analysts predict that PennyMac Financial Services, Inc. will post 10.68 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business 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. The ex-dividend date was Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. PennyMac Financial Services’s dividend payout ratio is presently 12.75%.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of PFSI. Caitong International Asset Management Co. Ltd increased its position in PennyMac Financial Services by 7,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 228 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in PennyMac Financial Services in the 4th quarter worth about $31,000. EverSource Wealth Advisors LLC bought a new stake in PennyMac Financial Services in the second quarter worth about $26,000. GAMMA Investing LLC boosted its position in shares of PennyMac Financial Services by 97.3% during the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 142 shares during the period. Finally, Strs Ohio bought a new position in shares of PennyMac Financial Services during the first quarter valued at approximately $30,000. Institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BTIG Research cut their price objective on PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Zacks Research cut shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Stephens started 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. Wall Street Zen upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings cut shares of PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, PennyMac Financial Services currently has a consensus rating of “Hold” and an average price target of $117.12.

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.