James Follette Sells 1,983 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider James Follette sold 1,983 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the completion of the sale, the insider now owns 10,497 shares in the company, valued at approximately $1,048,965.21. The trade was a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

PennyMac Financial Services Stock Up 1.5 %

PennyMac Financial Services stock opened at $103.61 on Friday. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The stock has a market cap of $5.31 billion, a PE ratio of 17.74, a P/E/G ratio of 0.19 and a beta of 1.78. The stock’s fifty day moving average is $103.60 and its two-hundred day moving average is $104.99.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, sell-side analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio is presently 20.55%.

Institutional Trading of PennyMac Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its position in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after purchasing an additional 51,777 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after purchasing an additional 21,751 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of PennyMac Financial Services during the third quarter worth about $614,000. HighTower Advisors LLC acquired a new stake in shares of PennyMac Financial Services during the third quarter worth about $702,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of PennyMac Financial Services during the third quarter worth about $24,644,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler reduced their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and an average target price of $122.17.

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.