Insider Buying: PennyMac Financial Services (NYSE:PFSI) Director Buys 2,250 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Patrick Kinsella purchased 2,250 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were acquired at an average cost of $89.15 per share, for a total transaction of $200,587.50. Following the completion of the purchase, the director directly owned 34,210 shares of the company’s stock, valued at approximately $3,049,821.50. This represents a 7.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Financial Services Trading Up 0.8%

NYSE:PFSI traded up $0.71 during trading hours on Friday, reaching $92.20. The company’s stock had a trading volume of 816,886 shares, compared to its average volume of 994,156. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.51 and a beta of 1.54. The firm has a 50-day simple moving average of $130.34 and a 200-day simple moving average of $122.69. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $160.36. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($1.26). The business had revenue of $538.01 million for the quarter, compared to analysts’ expectations of $639.81 million. PennyMac Financial Services had a net margin of 24.48% and a return on equity of 10.36%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.95 earnings per share. Research analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Monday, February 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.90%.

Wall Street Analysts Forecast Growth

PFSI has been the subject of a number of analyst reports. UBS Group increased their price objective on PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Weiss Ratings cut shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 20th. Jefferies Financial Group assumed coverage on shares of PennyMac Financial Services in a report on Friday, December 19th. They issued a “buy” rating and a $160.00 price target on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating on the stock in a research report on Monday, February 2nd. Finally, Piper Sandler dropped their target price on shares of PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $139.71.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new position in PennyMac Financial Services in the second quarter worth about $26,000. Strs Ohio bought a new stake in PennyMac Financial Services during the 1st quarter valued at approximately $30,000. Los Angeles Capital Management LLC purchased a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $31,000. GAMMA Investing LLC grew its holdings in shares of PennyMac Financial Services by 97.3% during the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 142 shares during the period. Finally, Bayforest Capital Ltd bought a new position in shares of PennyMac Financial Services in the 2nd quarter worth approximately $62,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.