PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Sells $1,050,210.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the completion of the transaction, the chief financial officer now owns 225,497 shares of the company’s stock, valued at $22,554,209.94. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Daniel Stanley Perotti also recently made the following trade(s):

• On Thursday, September 26th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00.

PennyMac Financial Services Trading Up 2.3 %

Shares of NYSE:PFSI opened at $104.87 on Wednesday. The company’s 50-day moving average price is $107.19 and its two-hundred day moving average price is $100.04. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a one year low of $75.25 and a one year high of $119.13. The stock has a market capitalization of $5.38 billion, a PE ratio of 33.29 and a beta of 1.79.

PennyMac Financial Services (NYSE:PFSI) last issued 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). The firm had revenue of $411.83 million during 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 for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.77 earnings per share. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PFSI. FMR LLC grew its stake in PennyMac Financial Services by 231.9% in the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock valued at $133,003,000 after buying an additional 815,389 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in PennyMac Financial Services in the 3rd quarter valued at about $24,644,000. Philadelphia Financial Management of San Francisco LLC acquired a new position in PennyMac Financial Services in the 3rd quarter valued at about $21,890,000. Edgestream Partners L.P. grew its stake in PennyMac Financial Services by 256.9% in the 2nd quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock valued at $8,028,000 after buying an additional 61,087 shares during the last quarter. Finally, State Street Corp grew its position in shares of PennyMac Financial Services by 6.0% during the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after purchasing an additional 51,777 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PFSI. Wells Fargo & Company lifted their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Barclays raised their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Piper Sandler raised their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services has an average rating of “Moderate Buy” and a consensus price target of $115.86.

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.