Insider Selling: PennyMac Financial Services Inc (NYSE:PFSI) Director Sells 2,500 Shares of Stock

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PennyMac Financial Services Inc (NYSE:PFSI) Director Stanford L. Kurland sold 2,500 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $37.81, for a total transaction of $94,525.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Stanford L. Kurland also recently made the following trade(s):

  • On Monday, February 10th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $38.21, for a total transaction of $573,150.00.

PennyMac Financial Services stock opened at $35.13 on Friday. PennyMac Financial Services Inc has a fifty-two week low of $20.36 and a fifty-two week high of $39.57. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a 50 day moving average price of $34.52 and a 200 day moving average price of $31.74. The company has a market capitalization of $3.01 billion, a PE ratio of 7.18, a price-to-earnings-growth ratio of 0.73 and a beta of 0.44.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $1.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.31. PennyMac Financial Services had a net margin of 26.60% and a return on equity of 21.86%. The firm had revenue of $490.38 million during the quarter, compared to the consensus estimate of $454.75 million. As a group, equities research analysts forecast that PennyMac Financial Services Inc will post 5.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Friday, February 14th will be issued a $0.12 dividend. The ex-dividend date is Thursday, February 13th. This represents a $0.48 annualized dividend and a yield of 1.37%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 9.82%.

A number of institutional investors have recently bought and sold shares of PFSI. First Trust Advisors LP lifted its position in shares of PennyMac Financial Services by 2.6% in the first quarter. First Trust Advisors LP now owns 111,812 shares of the real estate investment trust’s stock valued at $2,487,000 after acquiring an additional 2,862 shares in the last quarter. Bank of America Corp DE lifted its position in shares of PennyMac Financial Services by 62.1% in the second quarter. Bank of America Corp DE now owns 37,441 shares of the real estate investment trust’s stock valued at $830,000 after acquiring an additional 14,339 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of PennyMac Financial Services in the second quarter valued at about $6,812,000. Bowling Portfolio Management LLC purchased a new position in shares of PennyMac Financial Services in the third quarter valued at about $1,269,000. Finally, Navellier & Associates Inc purchased a new position in shares of PennyMac Financial Services in the third quarter valued at about $530,000. Hedge funds and other institutional investors own 51.10% of the company’s stock.

Several analysts have recently commented on PFSI shares. Wedbush lifted their price target on shares of PennyMac Financial Services from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. Barclays reaffirmed a “buy” rating and set a $37.00 price target on shares of PennyMac Financial Services in a research report on Friday, October 25th. ValuEngine lowered shares of PennyMac Financial Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 26th. Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a research report on Sunday, December 8th. Finally, Piper Jaffray Companies lifted their price target on shares of PennyMac Financial Services from $42.00 to $44.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $37.14.

PennyMac Financial Services Company Profile

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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