PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells $1,115,896.32 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Joseph F. Mazzella sold 11,396 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value of $1,115,896.32. Following the completion of the sale, the director now directly owns 105,446 shares in the company, valued at $10,325,272.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $97.75 on Friday. PennyMac Financial Services, Inc. has a fifty-two week low of $62.15 and a fifty-two week high of $105.94. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $4.98 billion, a P/E ratio of 33.94, a price-to-earnings-growth ratio of 0.63 and a beta of 1.72. The stock’s fifty day moving average is $95.61 and its two-hundred day moving average is $91.37.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The business had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. During the same quarter in the prior year, the firm earned $1.11 EPS. PennyMac Financial Services’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 10.54 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.23%. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s payout ratio is currently 41.67%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PFSI. Deutsche Bank Aktiengesellschaft lowered their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Wedbush lifted their price target on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a research note on Monday, July 22nd. Piper Sandler boosted their price objective on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $107.17.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new stake in PennyMac Financial Services in the fourth quarter valued at $967,000. UBS Group AG raised its holdings in shares of PennyMac Financial Services by 40.6% in the 4th quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 23,696 shares during the period. Campbell & CO Investment Adviser LLC raised its holdings in shares of PennyMac Financial Services by 165.0% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 24,753 shares of the real estate investment trust’s stock valued at $2,187,000 after buying an additional 15,412 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PennyMac Financial Services in the 4th quarter valued at $1,019,000. Finally, Federated Hermes Inc. raised its holdings in shares of PennyMac Financial Services by 40.0% in the 4th quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust’s stock valued at $5,333,000 after buying an additional 17,245 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.