PennyMac Financial Services (NYSE:PFSI) Shares Pass Above 200-Day Moving Average – Should You Sell?

PennyMac Financial Services, Inc. (NYSE:PFSI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $103.35 and traded as high as $108.71. PennyMac Financial Services shares last traded at $107.63, with a volume of 186,653 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PFSI shares. Keefe, Bruyette & Woods lowered their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Barclays lifted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their target price 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. Piper Sandler lifted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.50.

PennyMac Financial Services Trading Up 0.9 %

The stock has a market cap of $5.52 billion, a P/E ratio of 34.17, a PEG ratio of 0.18 and a beta of 1.78. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The business’s 50 day simple moving average is $103.35 and its 200 day simple moving average is $103.42.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The firm had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter last year, the firm posted $1.77 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, analysts expect that PennyMac Financial Services, Inc. will post 11.76 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Insider Activity

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now owns 48,040 shares of the company’s stock, valued at approximately $4,904,403.60. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the sale, the chief executive officer now directly owns 180,604 shares of the company’s stock, valued at $18,970,644.16. This represents a 5.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,844 shares of company stock worth $15,079,791. Insiders own 16.60% of the company’s stock.

Institutional Trading of PennyMac Financial Services

A number of institutional investors have recently bought and sold shares of the business. Dakota Wealth Management grew its holdings in shares of PennyMac Financial Services by 2.6% in the 4th quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust’s stock valued at $1,489,000 after buying an additional 374 shares during the period. Assenagon Asset Management S.A. lifted its position in PennyMac Financial Services by 27.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust’s stock valued at $2,779,000 after acquiring an additional 5,833 shares in the last quarter. JPMorgan Chase & Co. lifted its position in PennyMac Financial Services by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after acquiring an additional 21,751 shares in the last quarter. Tidal Investments LLC lifted its position in PennyMac Financial Services by 115.3% in the 3rd quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust’s stock valued at $1,719,000 after acquiring an additional 8,078 shares in the last quarter. Finally, Hohimer Wealth Management LLC bought a new stake in PennyMac Financial Services in the 3rd quarter valued at $236,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.