PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones Sells 600 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 600 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $102.04, for a total transaction of $61,224.00. Following the completion of the transaction, the director now owns 23,892 shares of the company’s stock, valued at $2,437,939.68. This trade represents a 2.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Doug Jones also recently made the following trade(s):

• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.51, for a total transaction of $2,357,975.79.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock opened at $102.97 on Friday. The firm has a market capitalization of $5.28 billion, a PE ratio of 32.69 and a beta of 1.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 12 month low of $81.93 and a 12 month high of $119.13. The business’s 50-day moving average price is $103.69 and its 200-day moving average price is $102.32.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The business had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 earnings per share. Sell-side analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s payout ratio is presently 38.10%.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at about $37,000. Blue Trust Inc. lifted its position in PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 262 shares during the last quarter. KBC Group NV boosted its stake in shares of PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 226 shares during the period. Quantbot Technologies LP grew its holdings in shares of PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $203,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFSI has been the topic of several research analyst reports. Piper Sandler upped their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Barclays boosted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, PennyMac Financial Services has an average rating of “Moderate Buy” and an average target price of $122.50.

PennyMac Financial Services Company Profile

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.