Stanford L. Kurland Sells 11,000 Shares of PennyMac Financial Services Inc (NYSE:PFSI) Stock

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PennyMac Financial Services Inc (NYSE:PFSI) insider Stanford L. Kurland sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $22.94, for a total value of $252,340.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of PFSI stock opened at $23.85 on Friday. The firm has a 50 day moving average of $22.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.19 and a quick ratio of 0.19. PennyMac Financial Services Inc has a twelve month low of $18.77 and a twelve month high of $24.50. The company has a market cap of $1.83 billion, a P/E ratio of 9.21, a price-to-earnings-growth ratio of 0.78 and a beta of 0.47.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). PennyMac Financial Services had a net margin of 11.79% and a return on equity of 6.57%. The company had revenue of $247.71 million during the quarter, compared to the consensus estimate of $246.88 million. Sell-side analysts predict that PennyMac Financial Services Inc will post 2.99 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on PFSI shares. Wedbush reissued an “outperform” rating on shares of PennyMac Financial Services in a research note on Thursday, April 4th. Zacks Investment Research downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $24.67.

Several hedge funds have recently modified their holdings of PFSI. Citigroup Inc. grew its holdings in PennyMac Financial Services by 10.6% in the 4th quarter. Citigroup Inc. now owns 5,982 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 573 shares during the last quarter. Nordea Investment Management AB grew its holdings in PennyMac Financial Services by 0.9% in the 4th quarter. Nordea Investment Management AB now owns 102,265 shares of the real estate investment trust’s stock valued at $2,174,000 after buying an additional 865 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in PennyMac Financial Services in the 1st quarter valued at approximately $38,000. Systematic Financial Management LP grew its holdings in PennyMac Financial Services by 3.2% in the 1st quarter. Systematic Financial Management LP now owns 56,625 shares of the real estate investment trust’s stock valued at $1,259,000 after buying an additional 1,755 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in PennyMac Financial Services by 2.6% in the 1st quarter. First Trust Advisors LP now owns 111,812 shares of the real estate investment trust’s stock valued at $2,487,000 after buying an additional 2,862 shares during the last quarter. 30.72% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Financial Services

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

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