PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Sells $1,185,765.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 10,500 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the completion of the sale, the chief financial officer now directly owns 235,997 shares of the company’s stock, valued at approximately $26,651,141.21. The transaction was disclosed in a document filed with the SEC, which is available through this link.

PennyMac Financial Services Stock Performance

PFSI traded up $1.56 on Friday, reaching $113.81. The stock had a trading volume of 256,786 shares, compared to its average volume of 254,062. The business’s 50-day moving average price is $103.63 and its two-hundred day moving average price is $95.41. The company has a market cap of $5.80 billion, a P/E ratio of 39.50, a price-to-earnings-growth ratio of 0.73 and a beta of 1.77. PennyMac Financial Services, Inc. has a 12-month low of $62.15 and a 12-month high of $119.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75.

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

PennyMac Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.05%. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, August 13th. PennyMac Financial Services’s payout ratio is presently 41.67%.

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of PennyMac Financial Services by 0.3% in the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after acquiring an additional 8,345 shares during the last quarter. Norges Bank acquired a new stake in PennyMac Financial Services during the 4th quarter worth $31,258,000. American Century Companies Inc. grew its holdings in shares of PennyMac Financial Services by 13.2% during the second quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock worth $32,919,000 after buying an additional 40,676 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of PennyMac Financial Services by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 182,245 shares of the real estate investment trust’s stock valued at $17,240,000 after buying an additional 4,930 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in PennyMac Financial Services by 0.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 139,882 shares of the real estate investment trust’s stock worth $12,742,000 after acquiring an additional 1,190 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.