Daniel Stanley Perotti Sells 16,481 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 16,481 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $101.56, for a total value of $1,673,810.36. Following the completion of the transaction, the chief financial officer now owns 37,501 shares of the company’s stock, valued at $3,808,601.56. This represents a 30.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, November 15th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00.
• On Thursday, September 26th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00.

PennyMac Financial Services Trading Down 0.6 %

NYSE:PFSI opened at $101.01 on Tuesday. PennyMac Financial Services, Inc. has a 52 week low of $81.93 and a 52 week high of $119.13. The firm has a 50-day moving average price of $104.16 and a two-hundred day moving average price of $102.23. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 32.07 and a beta of 1.78.

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 return on equity of 15.13% and a net margin of 11.45%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 earnings per share. On average, equities analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors 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 annualized dividend and a yield of 1.19%. PennyMac Financial Services’s payout ratio is currently 38.10%.

Institutional Trading of PennyMac Financial Services

A number of large investors have recently added to or reduced their stakes in PFSI. Bank of New York Mellon Corp grew its position in shares of PennyMac Financial Services by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,245 shares of the real estate investment trust’s stock valued at $17,240,000 after acquiring an additional 4,930 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in PennyMac Financial Services by 10.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,554 shares of the real estate investment trust’s stock valued at $904,000 after purchasing an additional 935 shares during the period. Picton Mahoney Asset Management raised its stake in shares of PennyMac Financial Services by 25.3% in the second quarter. Picton Mahoney Asset Management now owns 59,293 shares of the real estate investment trust’s stock valued at $5,609,000 after buying an additional 11,964 shares during the period. Cannon Global Investment Management LLC purchased a new position in shares of PennyMac Financial Services during the 2nd quarter valued at $255,000. Finally, Arizona State Retirement System grew its stake in shares of PennyMac Financial Services by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock worth $1,135,000 after acquiring an additional 336 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PFSI. Barclays upped their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler lifted their price target 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. Wells Fargo & Company upped their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods cut their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. Finally, Wedbush reissued an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.