Patrick Kinsella Acquires 2,250 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Patrick Kinsella acquired 2,250 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were bought at an average cost of $89.15 per share, for a total transaction of $200,587.50. Following the transaction, the director owned 34,210 shares of the company’s stock, valued at $3,049,821.50. This represents a 7.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PennyMac Financial Services Stock Performance

PFSI stock opened at $92.20 on Friday. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $160.36. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.52 and a beta of 1.54. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a 50-day simple moving average of $129.56 and a two-hundred day simple moving average of $122.87.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.23 by ($1.26). PennyMac Financial Services had a return on equity of 10.36% and a net margin of 24.48%.The firm had revenue of $538.01 million during the quarter, compared to analysts’ expectations of $639.81 million. During the same period in the previous year, the firm earned $1.95 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Monday, February 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, February 13th. PennyMac Financial Services’s dividend payout ratio is currently 12.90%.

Institutional Trading of PennyMac Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Walleye Capital LLC acquired a new stake in shares of PennyMac Financial Services in the fourth quarter worth $2,971,000. Wells Fargo & Company MN boosted its holdings in PennyMac Financial Services by 36.4% in the fourth quarter. Wells Fargo & Company MN now owns 40,993 shares of the real estate investment trust’s stock valued at $5,405,000 after purchasing an additional 10,930 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. acquired a new stake in PennyMac Financial Services during the 4th quarter worth about $8,298,000. Cibc World Markets Corp purchased a new position in shares of PennyMac Financial Services during the 4th quarter valued at about $255,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of PennyMac Financial Services by 69.6% in the 4th quarter. Renaissance Technologies LLC now owns 32,400 shares of the real estate investment trust’s stock valued at $4,272,000 after buying an additional 13,300 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PFSI shares. Piper Sandler decreased their price target on PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. UBS Group lifted their target price on shares of PennyMac Financial Services from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. BTIG Research restated a “buy” rating on shares of PennyMac Financial Services in a research note on Friday, January 30th. Wall Street Zen cut shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Finally, Weiss Ratings downgraded shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $139.71.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.