PennyMac Financial Services (NYSE:PFSI) Insider Derek Stark Sells 1,066 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 1,066 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $87.66, for a total value of $93,445.56. Following the completion of the sale, the insider directly owned 20,944 shares of the company’s stock, valued at approximately $1,835,951.04. This represents a 4.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Derek Stark also recently made the following trade(s):

• On Wednesday, February 25th, Derek Stark sold 1,903 shares of PennyMac Financial Services stock. The stock was sold at an average price of $91.50, for a total value of $174,124.50.

PennyMac Financial Services Stock Down 0.7%

Shares of PFSI opened at $89.75 on Wednesday. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week high of $160.36. The company has a market capitalization of $4.68 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The stock has a fifty day simple moving average of $120.20 and a two-hundred day simple moving average of $122.37. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.32.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results 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 net margin of 24.48% and a return on equity of 10.20%. The firm had revenue of $538.01 million for the quarter, compared to analyst estimates of $639.81 million. During the same period in the previous year, the firm posted $1.95 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Monday, February 16th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. PennyMac Financial Services’s dividend payout ratio is 12.90%.

Analysts Set New Price Targets

PFSI has been the subject of several analyst reports. Wells Fargo & Company lowered their price objective on PennyMac Financial Services from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Wall Street Zen lowered PennyMac Financial Services from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Weiss Ratings downgraded PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Zacks Research lowered shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating for the company in a research note on Monday, February 2nd. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $139.71.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its position in shares of PennyMac Financial Services by 7,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 228 shares in the last quarter. Virtu Financial LLC acquired a new stake in PennyMac Financial Services during the 4th quarter worth approximately $379,000. Invesco Ltd. grew its stake in shares of PennyMac Financial Services by 7.3% in the fourth quarter. Invesco Ltd. now owns 1,569,184 shares of the real estate investment trust’s stock worth $206,881,000 after acquiring an additional 106,088 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of PennyMac Financial Services by 5.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 10,167 shares of the real estate investment trust’s stock worth $1,340,000 after acquiring an additional 504 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of PennyMac Financial Services during the fourth quarter worth $479,000. 57.87% of the stock is owned by institutional investors and hedge funds.

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.