PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $496,900.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $16,457,725.52. The trade was a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

David Spector also recently made the following trade(s):

• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.72, for a total transaction of $6,217,126.40.
• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $104.95, for a total transaction of $1,049,500.00.
• On Tuesday, November 12th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $105.04, for a total value of $1,050,400.00.
• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $107.57, for a total value of $1,075,700.00.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock opened at $96.39 on Friday. PennyMac Financial Services, Inc. has a 1 year low of $81.93 and a 1 year high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a 50 day moving average price of $103.34 and a 200 day moving average price of $102.96. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 30.60 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the previous year, the company earned $1.77 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. Sell-side analysts predict that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Institutional Trading of PennyMac Financial Services

A number of institutional investors have recently modified their holdings of PFSI. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services during the third quarter valued at approximately $37,000. Blue Trust Inc. lifted its holdings in shares of PennyMac Financial Services by 59.5% during the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 262 shares in the last quarter. KBC Group NV boosted its position in PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares during the period. Quantbot Technologies LP boosted its position in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 290 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Barclays lifted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler upped their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. Finally, Wedbush reissued an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.50.

About PennyMac Financial Services

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.