PennyMac Financial Services (NYSE:PFSI) Announces Quarterly Earnings Results, Beats Estimates By $0.14 EPS

PennyMac Financial Services (NYSE:PFSI) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $2.48 EPS for the quarter, beating the consensus estimate of $2.34 by $0.14, reports. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. The business had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million.

PennyMac Financial Services Trading Up 0.9 %

PFSI traded up $0.80 during midday trading on Friday, reaching $87.00. 487,854 shares of the company’s stock traded hands, compared to its average volume of 239,720. The firm has a fifty day moving average of $87.83 and a two-hundred day moving average of $83.05. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 0.56 and a beta of 1.67. 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 has a 52 week low of $56.16 and a 52 week high of $94.78.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services’s payout ratio is 27.78%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday. Keefe, Bruyette & Woods dropped their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. Wedbush restated an “outperform” rating and set a $110.00 target price on shares of PennyMac Financial Services in a research report on Thursday. Barclays increased their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, PennyMac Financial Services has an average rating of “Moderate Buy” and an average price target of $97.75.

Insiders Place Their Bets

In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the sale, the chief executive officer now owns 250,604 shares in the company, valued at approximately $22,734,794.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the sale, the chief executive officer now owns 250,604 shares in the company, valued at approximately $22,734,794.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Doug Jones sold 17,079 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $86.10, for a total value of $1,470,501.90. Following the sale, the director now owns 23,892 shares in the company, valued at $2,057,101.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,802 shares of company stock worth $7,666,108. Company insiders own 17.40% of the company’s stock.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new position in shares of PennyMac Financial Services in the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC lifted its stake in shares of PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares during the period. Parkside Financial Bank & Trust bought a new position in shares of PennyMac Financial Services in the 4th quarter worth approximately $36,000. Exchange Traded Concepts LLC bought a new position in shares of PennyMac Financial Services in the 3rd quarter worth approximately $57,000. Finally, TFO Wealth Partners LLC lifted its stake in shares of PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.