PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells $1,493,869.45 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Joseph F. Mazzella sold 16,465 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the sale, the director now directly owns 116,546 shares of the company’s stock, valued at $10,574,218.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Financial Services Trading Down 0.4 %

PFSI opened at $91.73 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 0.59 and a beta of 1.68. PennyMac Financial Services, Inc. has a 12 month low of $56.46 and a 12 month high of $94.78. The stock has a fifty day moving average price of $88.29 and a 200-day moving average price of $84.45.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.14. The company had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. As a group, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.87%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.

Institutional Investors Weigh In On PennyMac Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares during the last quarter. Caxton Associates LP lifted its holdings in shares of PennyMac Financial Services by 3.6% during the 3rd quarter. Caxton Associates LP now owns 5,874 shares of the real estate investment trust’s stock valued at $391,000 after purchasing an additional 206 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of PennyMac Financial Services by 0.7% in the 1st quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust’s stock worth $3,087,000 after purchasing an additional 232 shares in the last quarter. MorganRosel Wealth Management LLC grew its stake in PennyMac Financial Services by 2.2% during the 1st quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock worth $985,000 after buying an additional 236 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in PennyMac Financial Services during the 4th quarter valued at about $25,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Barclays lifted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Wedbush reissued an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PennyMac Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $97.75.

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. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.