PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells $1,651,514.40 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the transaction, the insider now owns 14,670 shares in the company, valued at $1,714,629.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

PennyMac Financial Services Trading Down 0.3 %

Shares of PFSI stock traded down $0.30 during trading hours on Wednesday, reaching $116.26. The company’s stock had a trading volume of 336,476 shares, compared to its average volume of 251,213. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $5.95 billion, a P/E ratio of 40.36, a P/E/G ratio of 0.72 and a beta of 1.77. The firm’s fifty day simple moving average is $101.80 and its 200 day simple moving average is $94.23. PennyMac Financial Services, Inc. has a one year low of $62.15 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company had revenue of $406.13 million for the quarter, compared to analysts’ expectations of $469.64 million. During the same period in the previous year, the firm posted $1.11 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. Equities research analysts expect that PennyMac Financial Services, Inc. will post 10.61 EPS for the current year.

PennyMac Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 13th. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 1.03%. PennyMac Financial Services’s dividend payout ratio (DPR) is 41.67%.

Analyst Upgrades and Downgrades

PFSI has been the subject of several analyst reports. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price for the company. in a report on Monday, July 22nd. Piper Sandler raised their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Wedbush increased their price objective on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $107.17.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of PennyMac Financial Services by 1,529.6% during the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 413 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 109 shares in the last quarter. TFO Wealth Partners LLC boosted its position in shares of PennyMac Financial Services by 16,300.0% during 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 buying an additional 1,141 shares during the last quarter. SG Americas Securities LLC bought a new stake in PennyMac Financial Services in the 1st quarter worth about $202,000. Finally, Virtu Financial LLC purchased a new position in PennyMac Financial Services in the 4th quarter worth about $253,000. Institutional investors own 57.87% of the company’s stock.

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.