PennyMac Financial Services (NYSE:PFSI) CFO Daniel Stanley Perotti Sells 2,925 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 2,925 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $93.30, for a total value of $272,902.50. Following the sale, the chief financial officer owned 213,550 shares in the company, valued at $19,924,215. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

PennyMac Financial Services Stock Performance

NYSE PFSI traded up $2.25 during trading hours on Wednesday, reaching $96.13. 956,662 shares of the company were exchanged, compared to its average volume of 1,283,167. The stock has a market capitalization of $5.00 billion, a P/E ratio of 10.34, a P/E/G ratio of 0.53 and a beta of 1.54. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $160.36. The business’s 50 day simple moving average is $127.43 and its 200-day simple moving average is $122.87.

PennyMac Financial Services (NYSE:PFSI) last issued 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). PennyMac Financial Services had a return on equity of 10.36% and a net margin of 24.48%.The company had revenue of $538.01 million for the quarter, compared to analysts’ expectations of $639.81 million. During the same quarter in the previous year, the business earned $1.95 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Monday, February 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.2%. PennyMac Financial Services’s dividend payout ratio (DPR) is 12.90%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PFSI. BTIG Research reiterated a “buy” rating on shares of PennyMac Financial Services in a research note on Friday, January 30th. Wall Street Zen lowered shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Piper Sandler dropped their target price on PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Weiss Ratings lowered PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Finally, Zacks Research lowered PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $139.71.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 140 Summer Partners LP purchased a new stake in PennyMac Financial Services during the third quarter valued at about $55,268,000. Norges Bank purchased a new position in shares of PennyMac Financial Services during the 2nd quarter valued at about $39,976,000. Goldentree Asset Management LP purchased a new position in shares of PennyMac Financial Services during the 2nd quarter valued at about $29,249,000. Two Sigma Investments LP lifted its position in PennyMac Financial Services by 1,148.7% in the 3rd quarter. Two Sigma Investments LP now owns 310,919 shares of the real estate investment trust’s stock worth $38,517,000 after buying an additional 286,019 shares during the last quarter. Finally, Holocene Advisors LP boosted its stake in PennyMac Financial Services by 2,379.5% in the third quarter. Holocene Advisors LP now owns 245,268 shares of the real estate investment trust’s stock worth $30,384,000 after buying an additional 235,376 shares in the last quarter. 57.87% of the stock is currently 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.