David Spector Sells 5,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $98.29, for a total value of $491,450.00. Following the completion of the sale, the chief executive officer now directly owns 140,604 shares in the company, valued at approximately $13,819,967.16. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

David Spector also recently made the following trade(s):

• On Wednesday, May 14th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.15, for a total value of $495,750.00.
• On Wednesday, April 2nd, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $103.44, for a total value of $517,200.00.

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $98.41 on Friday. The company has a market capitalization of $5.08 billion, a P/E ratio of 16.85, a P/E/G ratio of 0.19 and a beta of 1.55. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $119.13. The stock’s fifty day moving average is $96.30 and its two-hundred day moving average is $100.66.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.99 by ($1.57). The business had revenue of $430.90 million for the quarter, compared to analyst estimates of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same period in the previous year, the business posted $0.74 earnings per share. Equities analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Wednesday, May 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Wednesday, May 14th. PennyMac Financial Services’s payout ratio is 18.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler lowered their price target on PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their price target on PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. UBS Group lowered their price target on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.17.

Institutional Trading of PennyMac Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC increased its position in shares of PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 113 shares during the last quarter. Strs Ohio acquired a new position in PennyMac Financial Services in the 1st quarter valued at about $30,000. TD Waterhouse Canada Inc. acquired a new position in PennyMac Financial Services in the 4th quarter valued at about $39,000. Sterling Capital Management LLC grew its position in PennyMac Financial Services by 601.8% in the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 343 shares in the last quarter. Finally, Aquatic Capital Management LLC acquired a new position in PennyMac Financial Services in the 4th quarter valued at about $71,000. 57.87% of the stock is owned by institutional investors and hedge funds.

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.