Derek Stark Sells 1,903 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 1,903 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $91.50, for a total value of $174,124.50. Following the transaction, the insider owned 22,477 shares of the company’s stock, valued at $2,056,645.50. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PennyMac Financial Services Stock Performance

Shares of PFSI traded up $0.20 during trading hours on Thursday, hitting $92.94. The company had a trading volume of 790,870 shares, compared to its average volume of 1,401,997. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $160.36. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 0.52 and a beta of 1.54. The business has a fifty day moving average of $122.80 and a 200-day moving average of $122.44. The company has a quick ratio of 0.36, a current ratio of 0.34 and a debt-to-equity ratio of 3.32.

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 the consensus estimate of $3.23 by ($1.26). The company had revenue of $538.01 million for the quarter, compared to analyst estimates of $639.81 million. PennyMac Financial Services had a return on equity of 10.20% and a net margin of 24.48%.The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business earned $1.95 earnings per share. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 12.90%.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors have recently made changes to their positions in PFSI. Los Angeles Capital Management LLC bought a new position in shares of PennyMac Financial Services during the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC acquired a new stake in PennyMac Financial Services during the 2nd quarter valued at approximately $26,000. GAMMA Investing LLC raised its holdings in PennyMac Financial Services by 97.3% during the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 142 shares during the last quarter. Strs Ohio acquired a new position in shares of PennyMac Financial Services in the 1st quarter worth approximately $30,000. Finally, Clearstead Advisors LLC lifted its position in shares of PennyMac Financial Services by 131.8% in the 4th quarter. Clearstead Advisors LLC now owns 503 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 286 shares during the period. Institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PFSI. Zacks Research downgraded shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Keefe, Bruyette & Woods decreased 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 report on Monday, February 2nd. Wells Fargo & Company cut their target price on shares of PennyMac Financial Services from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Wall Street Zen downgraded shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Finally, Weiss Ratings cut PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently 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.