PennyMac Financial Services, Inc. (PFSI) To Go Ex-Dividend on August 17th

PennyMac Financial Services, Inc. (NYSE:PFSI) announced a quarterly dividend on Monday, July 27th. Investors of record on Monday, August 17th will be paid a dividend of 0.30 per share by the real estate investment trust on Thursday, August 27th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, August 17th.

PennyMac Financial Services has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. PennyMac Financial Services has a dividend payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Analysts expect PennyMac Financial Services to earn $11.28 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 10.6%.

PennyMac Financial Services Trading Down 1.7%

PFSI stock opened at $78.10 on Friday. PennyMac Financial Services has a twelve month low of $71.68 and a twelve month high of $160.36. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.74 and a beta of 1.45. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 3.22. The firm’s fifty day simple moving average is $81.68 and its two-hundred day simple moving average is $88.30.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%.During the same quarter in the prior year, the business posted $2.54 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts anticipate that PennyMac Financial Services will post 7.42 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Zacks Research lowered PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d+)” rating on shares of PennyMac Financial Services in a report on Monday, August 3rd. Wall Street Zen cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Finally, BTIG Research dropped their price objective on shares of PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, PennyMac Financial Services currently has a consensus rating of “Hold” and an average target price of $104.88.

About PennyMac Financial Services

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.