Joseph F. Mazzella Sells 16,465 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Joseph F. Mazzella sold 16,465 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the completion of the sale, the director now owns 116,546 shares in the company, valued at approximately $10,574,218.58. The sale was disclosed in a filing with the SEC, which is accessible through this link.

PennyMac Financial Services Stock Performance

NYSE PFSI traded up $2.05 on Monday, hitting $92.89. The stock had a trading volume of 261,736 shares, compared to its average volume of 244,793. PennyMac Financial Services, Inc. has a one year low of $56.16 and a one year high of $94.78. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 0.59 and a beta of 1.68. The company’s 50-day moving average is $87.86 and its two-hundred day moving average is $83.99.

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

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 27.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC boosted its holdings in shares of PennyMac Financial Services by 283.2% in the third quarter. SG Americas Securities LLC now owns 10,415 shares of the real estate investment trust’s stock valued at $694,000 after acquiring an additional 7,697 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of PennyMac Financial Services by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 234,486 shares of the real estate investment trust’s stock valued at $15,617,000 after acquiring an additional 7,251 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of PennyMac Financial Services by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,076 shares of the real estate investment trust’s stock valued at $538,000 after acquiring an additional 944 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in PennyMac Financial Services during the third quarter valued at approximately $629,000. Finally, Teacher Retirement System of Texas lifted its stake in PennyMac Financial Services by 4.1% during the third quarter. Teacher Retirement System of Texas now owns 9,774 shares of the real estate investment trust’s stock valued at $651,000 after purchasing an additional 385 shares during the last quarter. Institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

PFSI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. StockNews.com raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Friday. Barclays boosted their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lowered 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 research report on Thursday, April 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.75.

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.