Doug Jones Sells 4,318 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 4,318 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $126.09, for a total transaction of $544,456.62. Following the completion of the sale, the director directly owned 19,056 shares of the company’s stock, valued at approximately $2,402,771.04. The trade was a 18.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

PennyMac Financial Services Stock Performance

NYSE:PFSI traded up $1.79 during mid-day trading on Friday, reaching $126.24. 261,637 shares of the company’s stock were exchanged, compared to its average volume of 382,982. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $134.56. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36. The business’s fifty day simple moving average is $122.03 and its two-hundred day simple moving average is $106.94. The firm has a market capitalization of $6.53 billion, a PE ratio of 13.60 and a beta of 1.56.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.39. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The firm had revenue of $632.90 million during the quarter, compared to the consensus estimate of $573.46 million. During the same quarter in the previous year, the firm posted $1.30 EPS. The business’s revenue for the quarter was up 53.7% compared to the same quarter last year. Analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share 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 26th. Investors of record on Monday, November 17th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, November 17th. PennyMac Financial Services’s payout ratio is 12.93%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company raised their price objective on PennyMac Financial Services from $115.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. UBS Group increased their target price on PennyMac Financial Services from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Keefe, Bruyette & Woods raised their price target on PennyMac Financial Services from $129.00 to $138.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Zacks Research raised shares of PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PennyMac Financial Services in a research note on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.67.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors have recently modified their holdings of PFSI. Bank of New York Mellon Corp lifted its position in shares of PennyMac Financial Services by 45.9% during the 1st quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust’s stock worth $29,055,000 after buying an additional 91,338 shares during the last quarter. Xponance Inc. acquired a new position in PennyMac Financial Services during the first quarter worth about $202,000. New York State Common Retirement Fund lifted its holdings in shares of PennyMac Financial Services by 1.2% in the first quarter. New York State Common Retirement Fund now owns 71,944 shares of the real estate investment trust’s stock worth $7,202,000 after acquiring an additional 879 shares during the last quarter. CWM LLC lifted its holdings in shares of PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 113 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its stake in shares of PennyMac Financial Services by 5.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 121 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.