PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones Sells 7,882 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 7,882 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $103.16, for a total value of $813,107.12. Following the transaction, the director now directly owns 450,000 shares in the company, valued at $46,422,000. This trade represents a 1.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, December 20th, Doug Jones sold 600 shares of PennyMac Financial Services stock. The shares were sold at an average price of $102.04, for a total transaction of $61,224.00.
• 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 Stock Down 0.9 %

PFSI stock opened at $102.07 on Friday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $5.23 billion, a P/E ratio of 32.40 and a beta of 1.78. PennyMac Financial Services, Inc. has a 52-week low of $81.93 and a 52-week high of $119.13. The company’s 50 day simple moving average is $103.54 and its 200-day simple moving average is $102.41.

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

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.18%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Analyst Ratings Changes

Several equities research analysts recently commented on PFSI shares. Piper Sandler boosted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Barclays boosted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods dropped 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 report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.50.

Hedge Funds Weigh In On PennyMac Financial Services

Large investors have recently made changes to their positions in the business. State Street Corp grew its position in PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after purchasing an additional 51,777 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $614,000. HighTower Advisors LLC purchased a new position in shares of PennyMac Financial Services during the 3rd quarter valued at $702,000. FORA Capital LLC acquired a new position in shares of PennyMac Financial Services in the third quarter worth $616,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of PennyMac Financial Services during the third quarter worth $24,644,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.