PennyMac Financial Services Inc (NYSE:PFSI) Director Stanford L. Kurland Sells 15,000 Shares

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PennyMac Financial Services Inc (NYSE:PFSI) Director Stanford L. Kurland sold 15,000 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $47.71, for a total value of $715,650.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

  • On Wednesday, July 29th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $46.57, for a total value of $698,550.00.
  • On Wednesday, July 15th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $42.09, for a total value of $631,350.00.
  • On Monday, July 13th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $41.10, for a total value of $616,500.00.
  • On Monday, June 29th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $40.94, for a total value of $614,100.00.
  • On Thursday, June 11th, Stanford L. Kurland sold 45,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $37.70, for a total value of $1,696,500.00.
  • On Thursday, May 28th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $34.05, for a total value of $510,750.00.
  • On Tuesday, May 26th, Stanford L. Kurland sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $33.22, for a total value of $498,300.00.
  • On Friday, May 15th, Stanford L. Kurland sold 600 shares of PennyMac Financial Services stock. The shares were sold at an average price of $29.01, for a total value of $17,406.00.

Shares of NYSE:PFSI opened at $48.26 on Friday. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of 6.00 and a beta of 1.18. The company has a debt-to-equity ratio of 2.15, a current ratio of 0.54 and a quick ratio of 0.54. The business’s 50-day moving average is $41.46 and its 200-day moving average is $33.32. PennyMac Financial Services Inc has a 1 year low of $13.14 and a 1 year high of $49.03.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $3.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.62. The company had revenue of $721.83 million for the quarter, compared to the consensus estimate of $664.45 million. PennyMac Financial Services had a return on equity of 32.19% and a net margin of 33.47%. Analysts anticipate that PennyMac Financial Services Inc will post 11.62 EPS for the current year.

Hedge funds have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its stake in PennyMac Financial Services by 23.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 128,116 shares of the real estate investment trust’s stock worth $2,833,000 after buying an additional 24,351 shares during the period. Tower Research Capital LLC TRC acquired a new position in PennyMac Financial Services during the 1st quarter worth approximately $69,000. Two Sigma Investments LP raised its stake in PennyMac Financial Services by 681.4% during the 1st quarter. Two Sigma Investments LP now owns 96,691 shares of the real estate investment trust’s stock worth $2,138,000 after buying an additional 84,317 shares during the period. Alliancebernstein L.P. raised its stake in PennyMac Financial Services by 86.5% during the 1st quarter. Alliancebernstein L.P. now owns 298,578 shares of the real estate investment trust’s stock worth $6,602,000 after buying an additional 138,482 shares during the period. Finally, Wellington Management Group LLP raised its stake in PennyMac Financial Services by 162.2% during the 1st quarter. Wellington Management Group LLP now owns 45,145 shares of the real estate investment trust’s stock worth $998,000 after buying an additional 27,926 shares during the period. 53.49% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on PennyMac Financial Services from $40.00 to $53.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Credit Suisse Group upped their price target on PennyMac Financial Services from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. JMP Securities upped their price target on PennyMac Financial Services from $25.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. Wells Fargo & Co reiterated a “buy” rating on shares of PennyMac Financial Services in a research report on Friday, May 8th. Finally, Barclays upped their price target on PennyMac Financial Services from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $42.63.

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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