PennyMac Financial Services (NYSE:PFSI) Issues Quarterly Earnings Results

PennyMac Financial Services (NYSE:PFSI) released its quarterly earnings data on Tuesday. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62), Briefing.com reports. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.28%. The business had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same period last year, the business earned $1.77 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis.

PennyMac Financial Services Stock Performance

PFSI stock opened at $101.02 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The business’s fifty day simple moving average is $107.73 and its two-hundred day simple moving average is $98.12. PennyMac Financial Services has a twelve month low of $62.15 and a twelve month high of $119.13. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 0.63 and a beta of 1.77.

PennyMac Financial Services Announces Dividend

The firm also recently announced 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 of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. PennyMac Financial Services’s payout ratio is 38.10%.

Insiders Place Their Bets

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $107.57, for a total value of $1,075,700.00. Following the sale, the chief executive officer now owns 190,604 shares in the company, valued at $20,503,272.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the transaction, the insider now owns 14,670 shares in the company, valued at approximately $1,714,629.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $107.57, for a total value of $1,075,700.00. Following the transaction, the chief executive officer now owns 190,604 shares in the company, valued at approximately $20,503,272.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,855 shares of company stock worth $9,647,599 over the last quarter. Company insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PFSI. Piper Sandler boosted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays boosted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company upped their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Wedbush reiterated an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently 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.