Insider Selling: PennyMac Financial Services (NYSE:PFSI) CAO Sells $240,472.53 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory Hendry sold 2,943 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $81.71, for a total value of $240,472.53. Following the completion of the transaction, the chief accounting officer directly owned 48,968 shares in the company, valued at $4,001,175.28. This trade represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

PennyMac Financial Services Trading Up 4.0%

Shares of NYSE:PFSI traded up $3.23 on Wednesday, hitting $83.47. 679,974 shares of the company’s stock were exchanged, compared to its average volume of 714,929. PennyMac Financial Services, Inc. has a 12 month low of $77.67 and a 12 month high of $160.36. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 0.52 and a beta of 1.44. The business’s 50 day simple moving average is $86.41 and its two-hundred day simple moving average is $102.98. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.33 and a quick ratio of 0.33.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The company had revenue of $544.98 million during the quarter, compared to the consensus estimate of $546.17 million. PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The company’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 earnings per share. Analysts anticipate that PennyMac Financial Services, Inc. will post 10.68 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, May 18th. PennyMac Financial Services’s payout ratio is currently 12.75%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PFSI shares. Zacks Research cut PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods decreased their target price on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Weiss Ratings cut PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Wells Fargo & Company decreased their price objective on PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Hold” and an average price target of $117.12.

Institutional Trading of PennyMac Financial Services

A number of hedge funds have recently bought and sold shares of PFSI. EverSource Wealth Advisors LLC purchased a new position in shares of PennyMac Financial Services in the 2nd quarter valued at $26,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of PennyMac Financial Services by 7,600.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 228 shares during the last quarter. Strs Ohio bought a new stake in PennyMac Financial Services during the first quarter valued at about $30,000. Los Angeles Capital Management LLC purchased a new position in PennyMac Financial Services in the fourth quarter valued at about $31,000. Finally, GAMMA Investing LLC grew its stake in PennyMac Financial Services by 97.3% in the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.