PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Sells $273,705.95 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CRO Abbie Tidmore sold 2,669 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $102.55, for a total value of $273,705.95. Following the completion of the transaction, the executive now directly owns 4,878 shares of the company’s stock, valued at approximately $500,238.90. This represents a 35.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock traded down $0.42 during trading hours on Tuesday, reaching $102.59. The company had a trading volume of 259,717 shares, compared to its average volume of 266,749. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13. The firm has a market cap of $5.28 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The business has a fifty day simple moving average of $103.29 and a 200 day simple moving average of $104.71.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFSI. Summit Investment Advisors Inc. boosted its position in shares of PennyMac Financial Services by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 154 shares during the last quarter. KBC Group NV lifted its holdings in shares of PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 209 shares during the last quarter. Quantbot Technologies LP increased its stake in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares during the last quarter. Sterling Capital Management LLC raised its position in PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 343 shares in the last quarter. Finally, Dakota Wealth Management lifted its stake in PennyMac Financial Services by 2.6% during the fourth quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust’s stock worth $1,489,000 after purchasing an additional 374 shares during the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PFSI shares. Piper Sandler lowered their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.17.

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.