PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Sells $1,673,810.36 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 16,481 shares of the business’s 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 sale, the chief financial officer now owns 37,501 shares in the company, valued at $3,808,601.56. This represents a 30.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $1,185,765.00.

PennyMac Financial Services Stock Up 1.2 %

PFSI stock opened at $102.18 on Thursday. The company’s 50 day moving average is $103.84 and its 200 day moving average is $102.32. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 32.44 and a beta of 1.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 1-year low of $81.93 and a 1-year high of $119.13.

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). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period in the previous year, the company earned $1.77 EPS. PennyMac Financial Services’s quarterly revenue was up 2.9% on a year-over-year basis. Sell-side analysts predict that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared 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. This represents a $1.20 annualized dividend and a yield of 1.17%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Hedge Funds Weigh In On PennyMac Financial Services

A number of large investors have recently modified their holdings of PFSI. FMR LLC boosted its stake in PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after buying an additional 815,389 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at $24,644,000. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of PennyMac Financial Services during the 3rd quarter valued at $21,890,000. Edgestream Partners L.P. raised its position 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 worth $8,028,000 after purchasing an additional 61,087 shares during the period. Finally, State Street Corp lifted its stake in 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 purchasing an additional 51,777 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wedbush restated an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Piper Sandler raised their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays upped their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company 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 decreased 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 assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $122.50.

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.