Gregory Hendry Sells 2,177 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory Hendry sold 2,177 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $86.89, for a total value of $189,159.53. Following the completion of the transaction, the chief accounting officer directly owned 48,968 shares in the company, valued at $4,254,829.52. This represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Financial Services Trading Up 0.1%

NYSE PFSI opened at $83.54 on Friday. The business has a 50 day simple moving average of $85.20 and a 200 day simple moving average of $100.62. PennyMac Financial Services, Inc. has a one year low of $77.67 and a one year high of $160.36. The stock has a market capitalization of $4.34 billion, a P/E ratio of 8.88, a P/E/G ratio of 0.56 and a beta of 1.44. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.33 and a quick ratio of 0.33.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The business had revenue of $544.98 million during the quarter, compared to the consensus estimate of $546.17 million. PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 earnings per share. Research analysts expect that PennyMac Financial Services, Inc. will post 10.43 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced 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 dividend yield of 1.4%. The ex-dividend date was Monday, May 18th. PennyMac Financial Services’s payout ratio is presently 12.75%.

Institutional Trading of PennyMac Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in 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 buying an additional 228 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of PennyMac Financial Services during the fourth quarter valued at about $31,000. EverSource Wealth Advisors LLC acquired a new position in shares of PennyMac Financial Services during the second quarter valued at about $26,000. GAMMA Investing LLC increased its position in shares of PennyMac Financial Services by 97.3% during the fourth 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 in the last quarter. Finally, Strs Ohio bought a new stake in shares of PennyMac Financial Services during the first quarter worth about $30,000. Institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

PFSI has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $112.00 to $106.00 and set an “overweight” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods cut their price objective on shares of PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Weiss Ratings downgraded PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. BTIG Research decreased their target price on PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Finally, Zacks Research downgraded PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $116.38.

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.