PennyMac Financial Services (PFSI) Set to Announce Quarterly Earnings on Wednesday

PennyMac Financial Services (NYSE:PFSI) is set to announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.34 per share for the quarter.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.75. The business had revenue of $361.94 million for the quarter, compared to the consensus estimate of $413.35 million. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. On average, analysts expect PennyMac Financial Services to post $10 EPS for the current fiscal year and $12 EPS for the next fiscal year.

PennyMac Financial Services Price Performance

NYSE:PFSI traded up $1.54 during trading hours on Thursday, reaching $87.89. 22,908 shares of the company were exchanged, compared to its average volume of 229,346. The business has a 50 day moving average of $87.90 and a 200 day moving average of $82.03. The company has a market capitalization of $4.43 billion, a P/E ratio of 32.51, a P/E/G ratio of 0.57 and a beta of 1.67. PennyMac Financial Services has a 1-year low of $56.16 and a 1-year high of $94.78. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Monday, February 12th. PennyMac Financial Services’s dividend payout ratio is currently 29.52%.

Insider Buying and Selling

In other news, CFO Daniel Stanley Perotti sold 11,400 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the transaction, the chief financial officer now directly owns 257,897 shares of the company’s stock, valued at approximately $22,823,884.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the completion of the sale, the chief financial officer now owns 257,897 shares of the company’s stock, valued at approximately $22,823,884.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $90.72, for a total transaction of $907,200.00. Following the completion of the sale, the chief executive officer now directly owns 250,604 shares of the company’s stock, valued at approximately $22,734,794.88. The disclosure for this sale can be found here. Insiders sold 87,802 shares of company stock worth $7,666,108 over the last 90 days. 17.40% of the stock is owned by insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors have recently bought and sold shares of the stock. Quilter Plc acquired a new position in shares of PennyMac Financial Services in the 1st quarter valued at about $248,250,000. West Tower Group LLC acquired a new position in shares of PennyMac Financial Services in the fourth quarter valued at $45,000. Tower Research Capital LLC TRC raised its stake in shares of PennyMac Financial Services by 59.9% in the first quarter. Tower Research Capital LLC TRC now owns 542 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 203 shares in the last quarter. KBC Group NV acquired a new position in PennyMac Financial Services during the fourth quarter worth $73,000. Finally, Nebula Research & Development LLC acquired a new position in PennyMac Financial Services during the fourth quarter worth $246,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analysts Set New Price Targets

PFSI has been the subject of several research reports. Deutsche Bank Aktiengesellschaft assumed coverage on PennyMac Financial Services in a research note on Wednesday, January 10th. They issued a “buy” rating and a $115.00 target price for the company. StockNews.com upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Barclays upped their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $100.00 to $105.00 in a report on Tuesday, April 9th. Finally, Wedbush lifted their target price on shares of PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.13.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.