PennyMac Financial Services, Inc. (NYSE:PFSI) Director Joseph F. Mazzella Sells 16,465 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Joseph F. Mazzella sold 16,465 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the completion of the sale, the director now owns 116,546 shares in the company, valued at $10,574,218.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

PennyMac Financial Services Trading Down 0.8 %

PennyMac Financial Services stock opened at $92.14 on Wednesday. The company has a 50 day moving average price of $88.14 and a 200 day moving average price of $84.40. PennyMac Financial Services, Inc. has a 52 week low of $56.16 and a 52 week high of $94.78. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 0.59 and a beta of 1.68.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $422.87 million. Research analysts forecast that PennyMac Financial Services, Inc. will post 10.55 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be given a $0.20 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.87%. PennyMac Financial Services’s payout ratio is 27.78%.

Analyst Upgrades and Downgrades

PFSI has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Wedbush restated an “outperform” rating and issued a $110.00 target price on shares of PennyMac Financial Services in a report on Thursday, April 25th. Barclays upped their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft dropped 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.75.

Institutional Investors Weigh In On PennyMac Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in PennyMac Financial Services in the 1st quarter worth approximately $202,000. Quantbot Technologies LP acquired a new position in shares of PennyMac Financial Services during the 1st quarter worth $2,570,000. BNP Paribas Financial Markets raised its holdings in shares of PennyMac Financial Services by 56.1% during the 1st quarter. BNP Paribas Financial Markets now owns 13,917 shares of the real estate investment trust’s stock valued at $1,268,000 after purchasing an additional 5,004 shares in the last quarter. Dakota Wealth Management lifted its stake in shares of PennyMac Financial Services by 5.4% in the 1st quarter. Dakota Wealth Management now owns 21,230 shares of the real estate investment trust’s stock valued at $1,934,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in PennyMac Financial Services in the first quarter worth $6,182,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.