PennyMac Financial Services (NYSE:PFSI) Director Sells $544,456.62 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 4,318 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $126.09, for a total value of $544,456.62. Following the sale, the director owned 19,056 shares in the company, valued at $2,402,771.04. The trade was a 18.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $126.24 on Monday. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $134.56. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.01. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 13.60 and a beta of 1.56. The stock has a 50 day moving average of $122.36 and a 200-day moving average of $107.33.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.39. PennyMac Financial Services had a return on equity of 11.69% and a net margin of 25.21%.The business had revenue of $632.90 million for the quarter, compared to analyst estimates of $573.46 million. During the same period in the prior year, the company posted $1.30 EPS. The business’s revenue was up 53.7% compared to the same quarter last year. As a group, analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, November 17th. PennyMac Financial Services’s dividend payout ratio is 12.93%.

Analysts Set New Price Targets

Several research analysts have recently commented on PFSI shares. Wells Fargo & Company lifted their price target on shares of PennyMac Financial Services from $115.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. UBS Group upped their target price on PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Piper Sandler increased their price target on PennyMac Financial Services from $136.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, BTIG Research restated a “buy” rating and set a $135.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 22nd. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $138.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D lifted its position in PennyMac Financial Services by 4.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 20,573 shares of the real estate investment trust’s stock worth $2,549,000 after purchasing an additional 820 shares during the period. Bryce Point Capital LLC bought a new stake in shares of PennyMac Financial Services in the 3rd quarter worth $586,000. Optimize Financial Inc acquired a new stake in shares of PennyMac Financial Services in the third quarter valued at $476,000. Envestnet Asset Management Inc. bought a new position in PennyMac Financial Services during the third quarter valued at about $494,000. Finally, Principal Financial Group Inc. boosted its stake in PennyMac Financial Services by 13.9% during the third quarter. Principal Financial Group Inc. now owns 28,597 shares of the real estate investment trust’s stock valued at $3,543,000 after buying an additional 3,500 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

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.