Doug Jones Sells 600 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 600 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $102.04, for a total value of $61,224.00. Following the completion of the sale, the director now owns 23,892 shares of the company’s stock, valued at $2,437,939.68. This represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Doug Jones also recently made the following trade(s):

• On Thursday, December 26th, Doug Jones sold 7,882 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.16, for a total value of $813,107.12.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.51, for a total transaction of $2,357,975.79.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $102.07 on Friday. The stock has a market capitalization of $5.23 billion, a P/E ratio of 32.40 and a beta of 1.78. PennyMac Financial Services, Inc. has a 1 year low of $81.93 and a 1 year high of $119.13. The firm has a 50 day moving average of $103.54 and a 200-day moving average of $102.41. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

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

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after purchasing an additional 51,777 shares in the last quarter. XTX Topco Ltd acquired a new position in PennyMac Financial Services during the 3rd quarter worth $614,000. HighTower Advisors LLC bought a new position in PennyMac Financial Services in the 3rd quarter valued at $702,000. FORA Capital LLC bought a new position in PennyMac Financial Services in the 3rd quarter valued at $616,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at $24,644,000. 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.