PennyMac Financial Services (NYSE:PFSI) CAO Gregory Hendry Sells 2,943 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory Hendry sold 2,943 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $81.71, for a total value of $240,472.53. Following the completion of the transaction, the chief accounting officer owned 48,968 shares of the company’s stock, valued at approximately $4,001,175.28. The trade was a 5.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Financial Services Price Performance

Shares of PFSI stock opened at $83.47 on Thursday. The business’s fifty day moving average is $86.22 and its 200 day moving average is $102.64. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.52 and a beta of 1.44. PennyMac Financial Services, Inc. has a twelve month low of $77.67 and a twelve month high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.03). The firm had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 EPS. Research analysts expect that PennyMac Financial Services, Inc. will post 10.68 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, May 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is 12.75%.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors have recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in PennyMac Financial Services in the 1st quarter worth approximately $233,000. EMG Holdings L.P. boosted its stake in PennyMac Financial Services by 228.6% during the 1st quarter. EMG Holdings L.P. now owns 65,727 shares of the real estate investment trust’s stock valued at $5,745,000 after purchasing an additional 45,727 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of PennyMac Financial Services by 173.9% in the 1st quarter. Bank of America Corp DE now owns 379,429 shares of the real estate investment trust’s stock worth $33,162,000 after purchasing an additional 240,902 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of PennyMac Financial Services by 1,882.2% in the 1st quarter. Janus Henderson Group PLC now owns 267,868 shares of the real estate investment trust’s stock worth $23,423,000 after purchasing an additional 254,354 shares in the last quarter. Finally, South Dakota Investment Council raised its stake in shares of PennyMac Financial Services by 25.7% in the first quarter. South Dakota Investment Council now owns 46,038 shares of the real estate investment trust’s stock worth $4,024,000 after purchasing an additional 9,400 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PFSI shares. Piper Sandler lowered their target price on shares of PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Barclays cut their price target on PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Keefe, Bruyette & Woods reduced their price objective on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Weiss Ratings cut PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Finally, Zacks Research downgraded PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $117.12.

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.