PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti Sells 16,481 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 16,481 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $101.56, for a total transaction of $1,673,810.36. Following the completion of the transaction, the chief financial officer now owns 37,501 shares in the company, valued at $3,808,601.56. This represents a 30.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Daniel Stanley Perotti also recently made the following trade(s):

• On Friday, November 15th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The stock was sold at an average price of $100.02, for a total transaction of $1,050,210.00.
• On Thursday, September 26th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00.

PennyMac Financial Services Stock Up 1.2 %

NYSE:PFSI opened at $102.18 on Thursday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $5.24 billion, a P/E ratio of 32.44 and a beta of 1.78. PennyMac Financial Services, Inc. has a fifty-two week low of $81.93 and a fifty-two week high of $119.13. The firm has a 50-day simple moving average of $103.84 and a two-hundred day simple moving average of $102.32.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the previous year, the firm earned $1.77 earnings per share. PennyMac Financial Services’s revenue was up 2.9% on a year-over-year basis. Analysts predict that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s payout ratio is currently 38.10%.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new position in PennyMac Financial Services during the 3rd quarter valued at about $37,000. Blue Trust Inc. grew its stake in shares of PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 262 shares during the period. KBC Group NV raised its holdings in shares of PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 226 shares during the last quarter. Quantbot Technologies LP lifted its position in PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 290 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in PennyMac Financial Services in the third quarter worth approximately $203,000. 57.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Barclays upped their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Piper Sandler upped their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $122.50.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.