PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 10,000 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.79, for a total transaction of $1,167,900.00. Following the completion of the sale, the chief executive officer now directly owns 200,604 shares in the company, valued at approximately $23,428,541.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

David Spector also recently made the following trade(s):

• On Wednesday, August 21st, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $99.31, for a total value of $993,100.00.
• On Wednesday, July 10th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $92.06, for a total value of $920,600.00.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $116.26 on Thursday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. PennyMac Financial Services, Inc. has a 1-year low of $62.15 and a 1-year high of $119.13. The firm has a market capitalization of $5.95 billion, a P/E ratio of 40.37, a P/E/G ratio of 0.72 and a beta of 1.77. The business’s 50-day simple moving average is $101.80 and its 200-day simple moving average is $94.23.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The business had revenue of $406.13 million for the quarter, compared to analyst estimates of $469.64 million. During the same period last year, the firm earned $1.11 earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. Equities analysts predict that PennyMac Financial Services, Inc. will post 10.61 EPS for the current year.

PennyMac Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date was Tuesday, August 13th. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s payout ratio is currently 41.67%.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of PFSI. Blue Trust Inc. increased its holdings in PennyMac Financial Services by 1,529.6% during the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in PennyMac Financial Services by 29.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 109 shares in the last quarter. TFO Wealth Partners LLC increased its position in shares of PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of PennyMac Financial Services in the 1st quarter valued at about $202,000. Finally, Virtu Financial LLC bought a new position in shares of PennyMac Financial Services during the fourth quarter worth about $253,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PFSI. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Wedbush raised their price target on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective for the company. in a research report on Monday, July 22nd. Finally, Piper Sandler raised their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, PennyMac Financial Services has an average rating of “Hold” and an average target price of $107.17.

About PennyMac Financial Services

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.