PennyMac Financial Services (NYSE:PFSI) CAO Gregory Hendry Sells 2,177 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory Hendry sold 2,177 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were 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. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $83.54 on Friday. The firm has a market capitalization of $4.34 billion, a PE ratio of 8.88, a PEG ratio of 0.55 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, Inc. has a 1-year low of $77.67 and a 1-year high of $160.36. The business’s 50 day moving average is $85.34 and its 200-day moving average is $100.74.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 EPS for the quarter, missing analysts’ consensus estimates 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 revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. Sell-side analysts predict that PennyMac Financial Services, Inc. will post 10.68 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

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

Institutional Investors Weigh In On PennyMac Financial Services

A number of hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PennyMac Financial Services by 0.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,034 shares of the real estate investment trust’s stock worth $1,598,000 after buying an additional 111 shares during the period. GAMMA Investing LLC boosted its holdings in shares of PennyMac Financial Services by 97.3% in 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. Sei Investments Co. increased its position in shares of PennyMac Financial Services by 0.7% during the third quarter. Sei Investments Co. now owns 22,145 shares of the real estate investment trust’s stock worth $2,743,000 after acquiring an additional 146 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of PennyMac Financial Services by 1.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock worth $2,026,000 after acquiring an additional 163 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of PennyMac Financial Services by 7.3% during the fourth quarter. Cerity Partners LLC now owns 2,399 shares of the real estate investment trust’s stock worth $316,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Wells Fargo & Company decreased their price objective on PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Wall Street Zen upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings cut PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Finally, BTIG Research dropped their target price on PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, PennyMac Financial Services currently has a consensus rating of “Hold” and a consensus target price of $116.38.

About PennyMac Financial Services

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.