PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones Sells 600 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 600 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $102.04, for a total transaction of $61,224.00. Following the sale, the director now owns 23,892 shares of the company’s stock, valued at approximately $2,437,939.68. This represents a 2.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Doug Jones also recently made the following trade(s):

• On Thursday, December 26th, Doug Jones sold 7,882 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.16, for a total transaction of $813,107.12.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.51, for a total transaction of $2,357,975.79.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $102.07 on Friday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services, Inc. has a 52 week low of $81.93 and a 52 week high of $119.13. The company’s 50 day moving average price is $103.54 and its two-hundred day moving average price is $102.41. The company has a market capitalization of $5.23 billion, a P/E ratio of 32.40 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). The company had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.77 EPS. On average, analysts expect that PennyMac Financial Services, Inc. will post 11.88 earnings per share 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. Stockholders of record on Monday, November 18th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

Analysts Set New Price Targets

A number of brokerages recently commented on PFSI. Wedbush reaffirmed an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Barclays increased their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Finally, Piper Sandler lifted their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its stake in PennyMac Financial Services by 231.9% in the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock valued at $133,003,000 after acquiring an additional 815,389 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of PennyMac Financial Services by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after purchasing an additional 21,751 shares during the last quarter. State Street Corp lifted its position in shares of 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 in the last quarter. Geode Capital Management LLC boosted its holdings in PennyMac Financial Services by 3.1% during the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after purchasing an additional 19,662 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PennyMac Financial Services by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock valued at $50,985,000 after purchasing an additional 31,035 shares in the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

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.