PennyMac Financial Services (NYSE:PFSI) Insider Derek Stark Sells 4,750 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 4,750 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $109.56, for a total value of $520,410.00. Following the completion of the transaction, the insider directly owned 20,621 shares in the company, valued at approximately $2,259,236.76. This represents a 18.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $109.09 on Wednesday. The company has a debt-to-equity ratio of 3.03, a current ratio of 0.34 and a quick ratio of 0.34. The stock’s fifty day moving average price is $100.42 and its two-hundred day moving average price is $98.99. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $119.13. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 15.13 and a beta of 1.50.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $3.01 by ($1.99). PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.18%. The firm had revenue of $444.73 million during the quarter, compared to analyst estimates of $547.44 million. During the same period in the prior year, the company earned $1.85 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Wednesday, August 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 13th. PennyMac Financial Services’s dividend payout ratio is currently 16.64%.

Analysts Set New Price Targets

A number of research analysts have commented on PFSI shares. UBS Group decreased their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, July 24th. Keefe, Bruyette & Woods decreased their price objective on PennyMac Financial Services from $121.00 to $117.00 and set an “outperform” rating on the stock in a report on Thursday, July 24th. Wells Fargo & Company started coverage on PennyMac Financial Services in a report on Monday. They issued an “overweight” rating and a $115.00 price objective on the stock. Barclays reduced their target price on PennyMac Financial Services from $124.00 to $119.00 and set an “overweight” rating on the stock in a report on Tuesday, July 8th. Finally, Piper Sandler reduced their target price on PennyMac Financial Services from $125.00 to $121.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.67.

Institutional Trading of PennyMac Financial Services

Several large investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co grew its holdings in shares of PennyMac Financial Services by 4.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 16,073 shares of the real estate investment trust’s stock worth $1,602,000 after purchasing an additional 626 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in PennyMac Financial Services by 62.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,236 shares of the real estate investment trust’s stock valued at $422,000 after buying an additional 1,634 shares in the last quarter. Conversant Capital LLC boosted its stake in PennyMac Financial Services by 8.9% in the second quarter. Conversant Capital LLC now owns 266,000 shares of the real estate investment trust’s stock valued at $26,504,000 after buying an additional 21,850 shares in the last quarter. Holocene Advisors LP acquired a new stake in PennyMac Financial Services in the second quarter valued at about $986,000. Finally, BNP Paribas Financial Markets boosted its stake in PennyMac Financial Services by 629.3% in the second quarter. BNP Paribas Financial Markets now owns 30,814 shares of the real estate investment trust’s stock valued at $3,070,000 after buying an additional 26,589 shares in the last quarter. 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.