PennyMac Financial Services, Inc. (PFSI) to Issue Quarterly Dividend of $0.30 on August 27th

PennyMac Financial Services, Inc. (NYSE:PFSI) announced a quarterly dividend on Monday, July 27th. Investors of record on Monday, August 17th will be given a dividend of 0.30 per share by the real estate investment trust on Thursday, August 27th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, August 17th.

PennyMac Financial Services has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. PennyMac Financial Services has a payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect PennyMac Financial Services to earn $11.28 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 10.6%.

PennyMac Financial Services Stock Down 1.7%

Shares of NYSE:PFSI opened at $78.10 on Friday. The stock has a fifty day simple moving average of $81.68 and a two-hundred day simple moving average of $88.30. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.74 and a beta of 1.45. PennyMac Financial Services has a 12-month low of $71.68 and a 12-month high of $160.36. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%.During the same period in the prior year, the company earned $2.54 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. On average, research analysts anticipate that PennyMac Financial Services will post 7.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Gregory L. Hendry sold 2,943 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $81.71, for a total value of $240,472.53. Following the sale, the chief accounting officer owned 48,968 shares in the company, valued at approximately $4,001,175.28. This trade represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds have recently added to or reduced their stakes in the stock. Freestone Grove Partners LP bought a new position in shares of PennyMac Financial Services during the 2nd quarter valued at $41,000. Man Group plc purchased a new stake in PennyMac Financial Services during the second quarter valued at $2,258,000. Jupiter Topco LLC purchased a new stake in PennyMac Financial Services during the second quarter valued at $1,176,000. Kinetic Partners Management LP purchased a new position in PennyMac Financial Services in the second quarter worth about $18,282,000. Finally, Palisade Capital Management LP bought a new stake in shares of PennyMac Financial Services during the 2nd quarter valued at about $4,366,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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.