PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 5,000 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at $16,457,725.52. This represents a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.72, for a total value of $6,217,126.40.
• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $104.95, for a total value of $1,049,500.00.
• On Tuesday, November 12th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $105.04, for a total value of $1,050,400.00.
• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00.

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $96.39 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The business’s 50-day moving average price is $103.28 and its 200 day moving average price is $103.13. PennyMac Financial Services, Inc. has a 52-week low of $81.93 and a 52-week high of $119.13. The firm has a market cap of $4.94 billion, a P/E ratio of 30.60 and a beta of 1.78.

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

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds have recently modified their holdings of PFSI. FMR LLC lifted its holdings in shares of PennyMac Financial Services by 231.9% during the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock valued at $133,003,000 after purchasing an additional 815,389 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after buying an additional 21,751 shares in the last quarter. State Street Corp boosted its holdings in shares of PennyMac Financial Services by 6.0% in the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after buying an additional 51,777 shares during the period. Geode Capital Management LLC increased its position in shares of PennyMac Financial Services by 3.1% in the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after acquiring an additional 19,662 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of PennyMac Financial Services by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock valued at $50,985,000 after acquiring an additional 31,035 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.