PennyMac Financial Services, Inc. (NYSE:PFSI) to Issue $0.30 Quarterly Dividend

PennyMac Financial Services, Inc. (NYSE:PFSI) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Thursday, February 13th will be given a dividend of 0.30 per share by the real estate investment trust on Sunday, February 23rd. This represents a $1.20 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 13th.

PennyMac Financial Services has increased its dividend by an average of 7.7% per year over the last three years. PennyMac Financial Services has a dividend payout ratio of 7.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PennyMac Financial Services to earn $16.23 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 7.4%.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $102.98 on Tuesday. The business’s 50 day moving average price is $104.30 and its two-hundred day moving average price is $104.62. The company has a market cap of $5.28 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services has a twelve month low of $83.03 and a twelve month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.80%. On average, analysts predict that PennyMac Financial Services will post 13.98 EPS for the current year.

Analyst Upgrades and Downgrades

PFSI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Wells Fargo & Company increased 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. Piper Sandler decreased their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Wedbush reiterated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.17.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the transaction, the chief financial officer now owns 225,497 shares of the company’s stock, valued at $22,554,209.94. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the transaction, the chief accounting officer now directly owns 48,040 shares in the company, valued at approximately $4,904,403.60. This represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 137,844 shares of company stock valued at $14,029,391. 16.60% of the stock is owned by corporate insiders.

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.