PennyMac Financial Services (NYSE:PFSI) Director Patrick Kinsella Acquires 2,250 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Patrick Kinsella bought 2,250 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of $89.15 per share, with a total value of $200,587.50. Following the completion of the purchase, the director directly owned 34,210 shares of the company’s stock, valued at $3,049,821.50. This represents a 7.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PennyMac Financial Services Trading Up 0.8%

Shares of PFSI stock opened at $92.20 on Friday. 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 firm has a fifty day moving average of $129.56 and a 200-day moving average of $122.68. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week high of $160.36. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 0.52 and a beta of 1.54.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($1.26). PennyMac Financial Services had a return on equity of 10.36% and a net margin of 24.48%.The business had revenue of $538.01 million during the quarter, compared to analyst estimates of $639.81 million. During the same period last year, the company earned $1.95 EPS. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Monday, February 16th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. PennyMac Financial Services’s dividend payout ratio is presently 12.90%.

Analyst Ratings Changes

PFSI has been the subject of several research analyst reports. Barclays cut their price objective on PennyMac Financial Services from $158.00 to $136.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Zacks Research cut shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. UBS Group lifted their target price on PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Piper Sandler cut their price target on PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating for the company in a research note on Monday, February 2nd. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $139.71.

Hedge Funds Weigh In On PennyMac Financial Services

A number of large investors have recently modified their holdings of PFSI. 140 Summer Partners LP bought a new position in PennyMac Financial Services in the third quarter valued at approximately $55,268,000. Norges Bank bought a new position in shares of PennyMac Financial Services in the second quarter valued at $39,976,000. Goldentree Asset Management LP bought a new position in shares of PennyMac Financial Services in the second quarter valued at $29,249,000. Two Sigma Investments LP grew its stake in shares of PennyMac Financial Services by 1,148.7% in the third quarter. Two Sigma Investments LP now owns 310,919 shares of the real estate investment trust’s stock valued at $38,517,000 after buying an additional 286,019 shares in the last quarter. Finally, Holocene Advisors LP increased its holdings in PennyMac Financial Services by 2,379.5% during the third quarter. Holocene Advisors LP now owns 245,268 shares of the real estate investment trust’s stock worth $30,384,000 after buying an additional 235,376 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.