PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Sells $309,536.88 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory L. Hendry sold 3,032 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $105.68 on Friday. The firm’s 50 day moving average is $106.77 and its 200-day moving average is $100.18. The stock has a market capitalization of $5.42 billion, a P/E ratio of 33.55 and a beta of 1.79. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a 12-month low of $76.57 and a 12-month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). The business had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new position in shares of PennyMac Financial Services in the third quarter worth about $37,000. Blue Trust Inc. boosted its holdings in shares of PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 413 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 109 shares during the period. KBC Group NV boosted its holdings in shares of PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 226 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in shares of PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PFSI. Barclays increased their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler raised their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $115.86.

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.