PennyMac Financial Services, Inc. Declares Quarterly Dividend of $0.30 (NYSE:PFSI)

PennyMac Financial Services, Inc. (NYSE:PFSI) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Thursday, February 13th will be given a dividend of 0.30 per share by the real estate investment trust on Sunday, February 23rd. This represents a $1.20 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, February 13th.

PennyMac Financial Services has raised its dividend payment by an average of 7.7% annually over the last three years. PennyMac Financial Services has a dividend payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PennyMac Financial Services to earn $14.23 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 8.4%.

PennyMac Financial Services Stock Performance

Shares of PFSI stock traded down $9.89 during midday trading on Friday, hitting $104.93. The company had a trading volume of 1,029,964 shares, compared to its average volume of 352,368. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 0.21 and a beta of 1.78. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The company’s 50 day simple moving average is $104.67 and its 200 day simple moving average is $104.39. PennyMac Financial Services has a 52-week low of $83.03 and a 52-week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. Research analysts anticipate that PennyMac Financial Services will post 11.76 earnings per share for the current fiscal year.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, Director Doug Jones sold 23,229 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $101.51, for a total transaction of $2,357,975.79. Following the completion of the transaction, the director now directly owns 23,892 shares in the company, valued at approximately $2,425,276.92. This trade represents a 49.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gregory L. Hendry sold 3,032 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,844 shares of company stock valued at $15,079,791 in the last ninety days. Corporate insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PFSI shares. Barclays increased their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler cut their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday. Wells Fargo & Company lifted their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods cut their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. Finally, 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.17.

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.