PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 10,000 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the transaction, the chief executive officer now directly owns 220,604 shares of the company’s stock, valued at approximately $20,308,804.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

David Spector also recently made the following trade(s):

• On Monday, June 3rd, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $90.56, for a total value of $905,600.00.
• On Wednesday, May 15th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $93.16, for a total transaction of $931,600.00.

PennyMac Financial Services Trading Up 6.3 %

NYSE:PFSI traded up $5.80 on Thursday, hitting $98.46. 310,204 shares of the stock were exchanged, compared to its average volume of 231,507. The stock has a market cap of $5.01 billion, a PE ratio of 34.19, a PEG ratio of 0.60 and a beta of 1.72. PennyMac Financial Services, Inc. has a fifty-two week low of $62.15 and a fifty-two week high of $98.87. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. The stock has a fifty day moving average of $92.10 and a 200-day moving average of $89.25.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The firm had revenue of $305.66 million for the quarter, compared to analysts’ expectations of $422.87 million. As a group, equities analysts expect that PennyMac Financial Services, Inc. will post 10.55 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 Friday, May 24th. Investors of record on Tuesday, May 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.81%. PennyMac Financial Services’s dividend payout ratio (DPR) is 27.78%.

Analyst Ratings Changes

A number of brokerages have recently commented on PFSI. Barclays lifted their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Wedbush reissued an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods increased their target price on PennyMac Financial Services from $100.00 to $102.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Institutional Trading of PennyMac Financial Services

Several large investors have recently added to or reduced their stakes in PFSI. USA Financial Formulas purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC grew its holdings in PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust purchased a new stake in PennyMac Financial Services during the 4th quarter worth $36,000. TFO Wealth Partners LLC lifted its holdings in PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 1,141 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in PennyMac Financial Services in the 1st quarter valued at about $202,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.