Abbie Tidmore Sells 2,669 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Abbie Tidmore sold 2,669 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $102.55, for a total transaction of $273,705.95. Following the transaction, the executive now owns 4,878 shares in the company, valued at approximately $500,238.90. This trade represents a 35.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $102.29 on Thursday. The stock has a market capitalization of $5.26 billion, a P/E ratio of 17.52, a P/E/G ratio of 0.19 and a beta of 1.90. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. The company’s fifty day moving average is $103.28 and its two-hundred day moving average is $104.67.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. On average, sell-side analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid 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 of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 20.55%.

Analyst Ratings Changes

PFSI has been the topic of several research reports. Piper Sandler lowered their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Keefe, Bruyette & Woods lowered their price target on 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 issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, PennyMac Financial Services has an average rating of “Moderate Buy” and an average target price of $122.17.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. acquired a new stake in PennyMac Financial Services in the fourth quarter valued at $39,000. Sterling Capital Management LLC boosted its holdings in PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 343 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in PennyMac Financial Services during the fourth quarter worth about $71,000. Parkside Financial Bank & Trust increased its holdings in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 389 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.