PennyMac Financial Services (NYSE:PFSI) Issues Earnings Results

PennyMac Financial Services (NYSE:PFSI) posted its earnings results on Tuesday. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62), Briefing.com reports. The company had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. PennyMac Financial Services’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 earnings per share.

PennyMac Financial Services Stock Down 3.5 %

PennyMac Financial Services stock opened at $100.00 on Thursday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The company’s 50-day moving average is $107.67 and its 200-day moving average is $98.10. The firm has a market capitalization of $5.09 billion, a PE ratio of 34.72, a P/E/G ratio of 0.67 and a beta of 1.77. PennyMac Financial Services has a fifty-two week low of $62.15 and a fifty-two week high of $119.13.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is currently 41.67%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research note on Monday, July 22nd. Barclays raised their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday. Finally, Piper Sandler increased their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $114.33.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the transaction, the director now owns 105,446 shares of the company’s stock, valued at $10,325,272.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00. Following the completion of the sale, the chief executive officer now owns 210,604 shares in the company, valued at approximately $20,915,083.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph F. Mazzella sold 11,396 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the completion of the transaction, the director now owns 105,446 shares in the company, valued at approximately $10,325,272.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,855 shares of company stock worth $9,647,599. Insiders own 16.60% of the company’s stock.

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.