PennyMac Financial Services (PFSI) Set to Announce Quarterly Earnings on Wednesday

PennyMac Financial Services (NYSE:PFSI) will release its earnings data after the market closes on Wednesday, April 24th. Analysts expect PennyMac Financial Services to post earnings of $2.34 per share for the quarter.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.75. The firm had revenue of $361.94 million for the quarter, compared to analyst estimates of $413.35 million. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. On average, analysts expect PennyMac Financial Services to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock traded up $1.54 on Thursday, hitting $87.89. The company’s stock had a trading volume of 22,908 shares, compared to its average volume of 229,346. The firm has a market cap of $4.43 billion, a P/E ratio of 32.51, a price-to-earnings-growth ratio of 0.57 and a beta of 1.67. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90. The company has a fifty day moving average price of $87.90 and a 200-day moving average price of $82.03. PennyMac Financial Services has a one year low of $56.16 and a one year high of $94.78.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Tuesday, February 13th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 12th. This represents a $0.80 annualized dividend and a dividend yield of 0.91%. PennyMac Financial Services’s dividend payout ratio is presently 29.52%.

Insiders Place Their Bets

In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the completion of the sale, the insider now directly owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Spector sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the completion of the sale, the chief executive officer now directly owns 270,604 shares of the company’s stock, valued at approximately $23,591,256.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James Follette sold 2,617 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the sale, the insider now directly owns 7,257 shares of the company’s stock, valued at $625,843.68. The disclosure for this sale can be found here. In the last three months, insiders sold 87,802 shares of company stock valued at $7,666,108. 17.40% of the stock is currently owned by insiders.

Institutional Trading of PennyMac Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in shares of PennyMac Financial Services by 5.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,992,531 shares of the real estate investment trust’s stock valued at $282,877,000 after acquiring an additional 256,717 shares during the last quarter. MFN Partners Management LP increased its stake in shares of PennyMac Financial Services by 14.0% in the 1st quarter. MFN Partners Management LP now owns 4,531,792 shares of the real estate investment trust’s stock valued at $241,091,000 after acquiring an additional 556,274 shares during the last quarter. Vanguard Group Inc. increased its stake in PennyMac Financial Services by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 2,610,041 shares of the real estate investment trust’s stock worth $230,649,000 after purchasing an additional 19,748 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in PennyMac Financial Services by 7,011.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 801,420 shares of the real estate investment trust’s stock worth $5,283,000 after purchasing an additional 790,151 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in PennyMac Financial Services by 93.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 783,884 shares of the real estate investment trust’s stock worth $41,703,000 after purchasing an additional 379,161 shares in the last quarter. 57.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PFSI. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $100.00 to $105.00 in a research note on Tuesday, April 9th. Wedbush boosted their target price on shares of PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, January 2nd. StockNews.com upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of PennyMac Financial Services in a research note on Wednesday, January 10th. They issued a “buy” rating and a $115.00 target price on the stock. Finally, Barclays upped their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.13.

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.