Derek Stark Sells 1,903 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 1,903 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $91.50, for a total value of $174,124.50. Following the sale, the insider owned 22,477 shares in the company, valued at approximately $2,056,645.50. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $91.79 on Friday. The company has a market capitalization of $4.79 billion, a PE ratio of 9.87, 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 0.34 and a debt-to-equity ratio of 3.32. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $160.36. The firm has a fifty day simple moving average of $121.95 and a 200 day simple moving average of $122.39.

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). The business had revenue of $538.01 million during the quarter, compared to analyst estimates of $639.81 million. PennyMac Financial Services had a net margin of 24.48% and a return on equity of 10.20%. PennyMac Financial Services’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $1.95 earnings per share. On average, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on PFSI shares. Wells Fargo & Company cut their price target on shares of PennyMac Financial Services from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Zacks Research cut shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Barclays cut their target price on PennyMac Financial Services from $158.00 to $136.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Wall Street Zen downgraded PennyMac Financial Services from a “buy” rating to a “hold” rating in a research report on Sunday, January 18th. Finally, Keefe, Bruyette & Woods cut their price objective on 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. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $139.71.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC bought a new position in PennyMac Financial Services during the second quarter valued at approximately $26,000. Strs Ohio purchased a new stake in shares of PennyMac Financial Services in the 1st quarter valued at $30,000. Los Angeles Capital Management LLC bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at $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 valued at $38,000 after purchasing an additional 142 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in PennyMac Financial Services by 26.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 105 shares during the period. Institutional investors own 57.87% of the company’s stock.

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.