Derek Stark Sells 1,066 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 1,066 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $87.66, for a total transaction of $93,445.56. Following the completion of the sale, the insider owned 20,944 shares in the company, valued at approximately $1,835,951.04. The trade was a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Derek Stark also recently made the following trade(s):

• On Wednesday, February 25th, Derek Stark sold 1,903 shares of PennyMac Financial Services stock. The stock was sold at an average price of $91.50, for a total transaction of $174,124.50.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $90.72 on Thursday. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $160.36. The company has a debt-to-equity ratio of 3.32, a current ratio of 0.34 and a quick ratio of 0.34. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.51 and a beta of 1.56. The firm has a 50 day simple moving average of $119.33 and a 200 day simple moving average of $122.15.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($1.26). PennyMac Financial Services had a return on equity of 10.20% and a net margin of 24.48%.The company had revenue of $538.01 million for the quarter, compared to analyst estimates of $639.81 million. During the same quarter last year, the company posted $1.95 earnings per share. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. Research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Monday, February 16th were given a $0.30 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.3%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 12.90%.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors have recently modified their holdings of PFSI. Caitong International Asset Management Co. Ltd increased its position in shares of 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 worth $30,000 after buying an additional 228 shares during the period. Virtu Financial LLC acquired a new stake in PennyMac Financial Services during the 4th quarter worth about $379,000. Invesco Ltd. grew its holdings in PennyMac Financial Services by 7.3% during 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 during the period. Mercer Global Advisors Inc. ADV raised its position in shares of PennyMac Financial Services by 5.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 10,167 shares of the real estate investment trust’s stock worth $1,340,000 after acquiring an additional 504 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of PennyMac Financial Services in the 4th quarter valued at about $479,000. 57.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on PFSI shares. Wall Street Zen cut PennyMac Financial Services from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Zacks Research cut shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Barclays dropped their price target on shares of PennyMac Financial Services from $158.00 to $136.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, BTIG Research restated a “buy” rating on shares of PennyMac Financial Services in a report on Friday, January 30th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PennyMac Financial Services has an average rating of “Hold” and an average target price of $139.71.

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.