Insider Selling: PennyMac Financial Services (NYSE:PFSI) Insider Sells 1,903 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 1,903 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $91.50, for a total transaction of $174,124.50. Following the completion of the transaction, the insider owned 22,477 shares in the company, valued at approximately $2,056,645.50. The trade was a 7.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

PennyMac Financial Services Trading Up 0.2%

PennyMac Financial Services stock traded up $0.20 during trading hours on Thursday, reaching $92.94. 790,870 shares of the company’s stock were exchanged, compared to its average volume of 1,401,997. The firm’s 50 day simple moving average is $122.80 and its 200 day simple moving average is $122.44. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $160.36. The company has a quick ratio of 0.36, a current ratio of 0.34 and a debt-to-equity ratio of 3.32. The firm has a market capitalization of $4.83 billion, a PE ratio of 9.99, a PEG ratio of 0.52 and a beta of 1.54.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 EPS for the quarter, missing the consensus estimate of $3.23 by ($1.26). PennyMac Financial Services had a net margin of 24.48% and a return on equity of 10.20%. The business had revenue of $538.01 million for the quarter, compared to the consensus estimate of $639.81 million. During the same quarter in the previous year, the company earned $1.95 EPS. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current 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 given 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 12.90%.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new position in shares of PennyMac Financial Services in the second quarter valued at approximately $26,000. Strs Ohio purchased a new stake in PennyMac Financial Services in the 1st quarter valued at $30,000. Los Angeles Capital Management LLC bought a new position in PennyMac Financial Services during the 4th quarter valued at $31,000. GAMMA Investing LLC boosted 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 acquiring an additional 142 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of PennyMac Financial Services by 26.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 105 shares in the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Zacks Research cut shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Jefferies Financial Group began coverage on PennyMac Financial Services in a research note on Friday, December 19th. They issued a “buy” rating and a $160.00 target price for the company. Weiss Ratings lowered PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Wells Fargo & Company dropped their price target on PennyMac Financial Services from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, BTIG Research reissued a “buy” rating on shares of PennyMac Financial Services in a research note on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, PennyMac Financial Services has a consensus rating of “Hold” and a consensus target price of $139.71.

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.