PennyMac Financial Services, Inc. (PFSI) to Issue Quarterly Dividend of $0.30 on November 26th

PennyMac Financial Services, Inc. (NYSE:PFSI) declared a quarterly dividend on Tuesday, October 21st. Stockholders of record on Monday, November 17th will be paid a dividend of 0.30 per share by the real estate investment trust on Wednesday, November 26th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, November 17th.

PennyMac Financial Services has a dividend payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect PennyMac Financial Services to earn $16.15 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 7.4%.

PennyMac Financial Services Stock Up 6.7%

NYSE:PFSI opened at $128.98 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.03. The stock’s fifty day moving average is $117.60 and its two-hundred day moving average is $104.35. PennyMac Financial Services has a 52 week low of $85.74 and a 52 week high of $134.56. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 13.90 and a beta of 1.59.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.39. The firm had revenue of $632.90 million for the quarter, compared to analyst estimates of $573.46 million. PennyMac Financial Services had a return on equity of 11.90% and a net margin of 25.21%.PennyMac Financial Services’s revenue was up 53.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Research analysts anticipate that PennyMac Financial Services will post 13.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of PennyMac Financial Services in a report on Wednesday, October 8th. UBS Group increased their price objective on PennyMac Financial Services from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Barclays increased their price target on PennyMac Financial Services from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Wednesday. Zacks Research raised PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, BTIG Research reiterated a “buy” rating and issued a $135.00 price target on shares of PennyMac Financial Services in a research note on Wednesday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $135.50.

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.