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 PennyMac Financial Services stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $105.04, for a total value of $1,050,400.00. Following the transaction, the chief executive officer now owns 180,604 shares in the company, valued at $18,970,644.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00.
• On Tuesday, September 17th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $116.79, for a total transaction of $1,167,900.00.
• On Wednesday, August 21st, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00.

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $102.64 on Thursday. The stock has a market capitalization of $5.26 billion, a PE ratio of 32.58 and a beta of 1.79. PennyMac Financial Services, Inc. has a 1-year low of $73.01 and a 1-year high of $119.13. The firm has a fifty day simple moving average of $107.57 and a 200 day simple moving average of $99.53. 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 announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The firm had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $1.77 EPS. On average, research analysts expect that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.17%. PennyMac Financial Services’s dividend payout ratio is 38.10%.

Analyst Ratings Changes

PFSI has been the topic of several recent research reports. Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Barclays upped their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Piper Sandler lifted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price for the company. in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average target price of $115.86.

Institutional Trading of PennyMac Financial Services

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its holdings in PennyMac Financial Services by 91.3% in the 1st quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock valued at $1,753,000 after acquiring an additional 9,183 shares during the period. BNP Paribas Financial Markets boosted its position in shares of PennyMac Financial Services by 56.1% in the first quarter. BNP Paribas Financial Markets now owns 13,917 shares of the real estate investment trust’s stock valued at $1,268,000 after acquiring an additional 5,004 shares during the period. Edgestream Partners L.P. grew its stake in shares of PennyMac Financial Services by 349.5% in the first quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust’s stock valued at $2,166,000 after acquiring an additional 18,485 shares in the last quarter. Vanguard Group Inc. increased its position in PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after acquiring an additional 8,345 shares during the period. Finally, Maverick Capital Ltd. raised its stake in PennyMac Financial Services by 263.8% in the 2nd quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock worth $1,221,000 after purchasing an additional 9,357 shares in the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

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.