PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Bought by MorganRosel Wealth Management LLC

MorganRosel Wealth Management LLC raised its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,811 shares of the real estate investment trust’s stock after purchasing an additional 236 shares during the quarter. MorganRosel Wealth Management LLC’s holdings in PennyMac Financial Services were worth $985,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. USA Financial Formulas bought a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of 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 valued at $32,000 after acquiring an additional 205 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $36,000. TFO Wealth Partners LLC boosted its holdings in shares of PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Saxon Interests Inc. bought a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $208,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PFSI. Barclays increased their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. StockNews.com upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Wedbush restated an “outperform” rating and set a $110.00 target price on shares of PennyMac Financial Services in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average target price of $97.75.

PennyMac Financial Services Stock Up 2.1 %

Shares of NYSE:PFSI opened at $94.60 on Monday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $4.82 billion, a PE ratio of 32.85, a price-to-earnings-growth ratio of 0.61 and a beta of 1.72. PennyMac Financial Services, Inc. has a 52 week low of $62.15 and a 52 week high of $94.90. The firm has a 50 day simple moving average of $91.22 and a 200 day simple moving average of $88.98.

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

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.85%. PennyMac Financial Services’s payout ratio is 27.78%.

Insiders Place Their Bets

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the completion of the sale, the chief executive officer now owns 230,604 shares in the company, valued at approximately $20,883,498.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other PennyMac Financial Services news, Director Doug Jones sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $91.49, for a total value of $2,744,700.00. Following the completion of the sale, the director now owns 480,000 shares in the company, valued at approximately $43,915,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the sale, the chief executive officer now owns 230,604 shares of the company’s stock, valued at approximately $20,883,498.24. The disclosure for this sale can be found here. Insiders sold a total of 87,865 shares of company stock worth $8,031,769 in the last quarter. 16.60% of the stock is currently owned by corporate insiders.

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.