PennyMac Financial Services (NYSE:PFSI) CFO Sells $272,902.50 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 2,925 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $93.30, for a total value of $272,902.50. Following the sale, the chief financial officer directly owned 213,550 shares of the company’s stock, valued at $19,924,215. This represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $92.53 on Friday. The stock has a market cap of $4.81 billion, a P/E ratio of 9.95, a PEG ratio of 0.53 and a beta of 1.54. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01. The business’s 50-day moving average price is $125.92 and its two-hundred day moving average price is $122.63. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $538.01 million during the quarter, compared to the consensus estimate of $639.81 million. During the same quarter last year, the company posted $1.95 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, equities analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, February 13th. PennyMac Financial Services’s payout ratio is currently 12.90%.

Analysts Set New Price Targets

PFSI has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on PennyMac Financial Services from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. BTIG Research reissued a “buy” rating on shares of PennyMac Financial Services in a report on Friday, January 30th. Weiss Ratings lowered PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating on the stock in a research report on Monday, February 2nd. Finally, Zacks Research downgraded shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $139.71.

Institutional Trading of PennyMac Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of PFSI. Vise Technologies Inc. purchased a new stake in PennyMac Financial Services during the 2nd quarter valued at $383,000. Creative Planning raised its stake in shares of PennyMac Financial Services by 89.5% during the second quarter. Creative Planning now owns 13,495 shares of the real estate investment trust’s stock valued at $1,345,000 after acquiring an additional 6,374 shares during the last quarter. American Century Companies Inc. raised its stake in shares of PennyMac Financial Services by 15.0% during the second quarter. American Century Companies Inc. now owns 399,388 shares of the real estate investment trust’s stock valued at $39,795,000 after acquiring an additional 52,227 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of PennyMac Financial Services by 6.0% during the second quarter. Geode Capital Management LLC now owns 721,757 shares of the real estate investment trust’s stock worth $71,924,000 after purchasing an additional 41,124 shares during the period. Finally, Lightrock Netherlands B.V. grew its stake in shares of PennyMac Financial Services by 5.2% in the second quarter. Lightrock Netherlands B.V. now owns 143,113 shares of the real estate investment trust’s stock worth $14,260,000 after purchasing an additional 7,058 shares during the last quarter. Institutional investors own 57.87% of the company’s stock.

About PennyMac Financial Services

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.