PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory L. Hendry Sells 3,032 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at $4,904,403.60. This represents a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PennyMac Financial Services Trading Up 1.2 %

PFSI traded up $1.23 on Thursday, hitting $103.95. The company had a trading volume of 152,692 shares, compared to its average volume of 258,126. The firm has a market cap of $5.33 billion, a P/E ratio of 33.00 and a beta of 1.79. PennyMac Financial Services, Inc. has a 1 year low of $76.57 and a 1 year high of $119.13. The company’s fifty day moving average price is $106.96 and its 200 day moving average price is $100.09. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, October 22nd. 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). The company had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 earnings per share. As a group, equities analysts expect that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.15%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Hedge Funds Weigh In On PennyMac Financial Services

Several institutional investors have recently bought and sold shares of PFSI. SG Americas Securities LLC acquired a new position in PennyMac Financial Services in the 1st quarter valued at about $202,000. Russell Investments Group Ltd. lifted its stake in PennyMac Financial Services by 91.3% during the first quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock worth $1,753,000 after purchasing an additional 9,183 shares during the last quarter. ProShare Advisors LLC lifted its stake in PennyMac Financial Services by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,587 shares of the real estate investment trust’s stock worth $418,000 after purchasing an additional 361 shares during the last quarter. Vanguard Group Inc. lifted its stake in PennyMac Financial Services by 0.3% in the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock valued at $238,509,000 after buying an additional 8,345 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in PennyMac Financial Services in the first quarter valued at approximately $315,000. 57.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised their price objective 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. Finally, Piper Sandler raised their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.86.

PennyMac Financial Services Company Profile

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.