PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Steven Richard Bailey Sells 14,130 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares in the company, valued at approximately $1,714,629.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

PennyMac Financial Services Stock Down 0.3 %

NYSE:PFSI opened at $116.26 on Thursday. The company has a market cap of $5.95 billion, a PE ratio of 40.37, a P/E/G ratio of 0.72 and a beta of 1.77. PennyMac Financial Services, Inc. has a twelve month low of $62.15 and a twelve month high of $119.13. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The company’s 50 day moving average is $101.80 and its two-hundred day moving average is $94.23.

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

PennyMac Financial Services Increases Dividend

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On PennyMac Financial Services

Several large investors have recently made changes to their positions in PFSI. Creative Planning raised its position in PennyMac Financial Services by 59.9% during the second quarter. Creative Planning now owns 4,977 shares of the real estate investment trust’s stock worth $471,000 after acquiring an additional 1,865 shares during the period. Algert Global LLC acquired a new position in PennyMac Financial Services during the second quarter worth $408,000. The Manufacturers Life Insurance Company raised its position in PennyMac Financial Services by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 18,449 shares of the real estate investment trust’s stock worth $1,745,000 after acquiring an additional 1,166 shares during the period. Maverick Capital Ltd. raised its position in PennyMac Financial Services by 263.8% during the second quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock worth $1,221,000 after acquiring an additional 9,357 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in PennyMac Financial Services during the second quarter worth $639,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.